Development

The development of a self-storage facility generally begins with a comprehensive market analysis of the proposed project area. New owners and/or developers will usually hire a third-party specialist to conduct a detailed feasibility study, which will identify market demographics and other key metrics to determine the viability of self-storage in a particular location. Once a site is chosen, an engineer and architect are hired to design a self-storage facility that will maximize the investment in the land, including the site layout and unit mix. The developer, builder and/or owner may need to meet with local residents and the planning and zoning board to discuss the community impact of the project and the aesthetics of the individual buildings, including landscaping, building height, door color, etc. Owners might consider a multi-story building to maximize their footprint, or converting a building from another use to self-storage to widen their options.


  • Performance and Tenancy Booms
    Is the self-storage industry headed toward another big development cycle similar to the one in the late 1990s? The high prices investors have been paying for self-storage in many markets represent a significant premium over replacement costs. In market conditions like this, ...More
    September 1, 2006 Charles Ray Wilson Posted in Articles, Development
  • United Stor-All Forms JV With Harrison St. REC
    United Stor-All Centers has formed a joint venture with Harrison Street Real Estate Capital LLC of Chicago to target the acquisition, development and redevelopment of storage properties throughout the United States. ...More
    August 3, 2006 Posted in News, Development
  • Reno-Sparks, Nev.
    The area along the eastern slopes of the Sierra Nevada Mountains in western Nevada is growing, according to metropolitan area statistics. Beyond being a gaming destination with world-class vacation and recreational amenities, the region is home to a thriving business ...More
    July 10, 2006 Self-Storage Data Services Inc. Posted in Articles, Development
  • Pay Now or Later
    The following is an excerpt from Mr. Kliebenstein’s new book, How to Make Money in Self-Storage, set for 2007 publication. Reducing maintenance costs begins while the project is still on paper, in conceptual drawings. Important decisions about materials, from exterior metal ...More
    July 10, 2006 RK Kliebenstein Posted in Articles, Development
  • Overbuilding
    Overbuilding in self-storage doesn’t always get the attention it deserves. Owners need to focus on why it occurs, the repercussions, and how to avoid overbuilding in local markets. Overbuilding is a market condition in which self-storage supply exceeds demand at any given ...More
    July 10, 2006 Michael L. McCune Posted in Articles, Development
  • People
    Barry Gorenstein Storage Investment Management Inc. (SIMI), based in Stillwater, Minn., appointed Barry Gorenstein vice president for operations. He is responsible for customer service, staff development, training, audits, inspections, policy, systems and procedures, ...More
    June 1, 2006 Posted in Articles, Development, Technology
  • Due Diligence Turns the Tables
    Due diligence is one of your first steps when shopping for a storage facility, or a vacant parcel or building to convert to self-storage. When considering the purchase of a vacant land parcel or building to convert to self-storage or an existing storage property, one of ...More
    February 1, 2006 RK Kliebenstein Posted in Articles, Development
  • World Watch
    News From Around the World Facility Plan to Save Historic Mill After standing empty for three years, a historic mill in Manchester, England, is being revived as part of a mixed development that includes self-storage, industrial units and a gym. Mile End Estates is ...More
    December 1, 2005 Posted in Articles, Development
  • You Down With OPM?
    Other peoples’ money (OPM) is the key to making commercial real estate yield the greatest return on investment. More important than capitalization rates, revenue management and expense control, cash is king. And never in the modern history of finance has there been a better ...More
    November 1, 2005 RK Kliebenstein Posted in Articles, Development, Finance
  • United Stor-All Sante Fe
    A vacant builder’s supply yard was transformed into a multi-story self-storage facility with a pre-engineered interior-mezzanine system. The result was a space-efficient and profitable business for the owner and an asset to the community.The United Stor-All project in ...More
    November 1, 2005 Posted in Articles, Construction, Development