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.


  • Set 'Em Up and Sell 'Em On: Euro Self-Storage
    When referring to self-storage, the phrase "set 'em up and sell 'em on" makes the whole business sound so simple. Last year's acquisition of Aardvark Self Storage Ltd. and Rent-A-Space by Mentmore PLC demonstrated the "sell-out" most dream of may have been oversold. But the ...More
    June 1, 2003 Andrew Donaldson Posted in Articles, Development
  • Euro-Zone Needs Storage
    Six hectic and eventful years have passed since my arrival in England from Australia. Business takes me on regular "flying visits," where as soon as I am out of one office, I am in another airport lounge ready for take-off. This past summer, however, I piled my family into ...More
    April 1, 2003 Jonathan Perrin Posted in Articles, Development
  • Due Diligence
    Many parties interested in expanding their self-storage portfolios or venturing into the storage business have lately found good deals are becoming scarce, with capitalization rates pushing the envelope. Many investors share a common concern: "If we are going to underwrite ...More
    February 1, 2003 Matthew T. Pipkin Posted in Articles, Development
  • Conducting a Feasibility Study
    Your stocks aren't performing as you would like and you've been told self-storage is a "cash cow," but you're relatively unfamiliar with the industry. How do you choose a property? How do you determine if it will be successful? A feasibility study will provide the initial ...More
    February 1, 2003 Stephan Ross Posted in Articles, Development
  • Forecast '03
    While they may not have an all-seeing crystal ball, the industry experts who shared their predictions for the upcoming year with Inside Self-Storage do know a thing or two about the business. They are self-storage consultants, presidents, CEOs and all-around gurus. Here's ...More
    January 1, 2003 Posted in Articles, Development, Finance
  • State of the Industry Report
    A slow economy and declining demand put domestic self-storage to the test. What role will overseas expansion play? Crowded markets and a lagging economy over the past year tested the myth that self-storage is recession-proof. Some stores faired well. Others saw occupancy ...More
    January 1, 2003 Amy Campbell Posted in Articles, Development, Finance
  • Overbuilding
    AS WE ALL KNOW, EVERYTHING HAS IT'S CYCLE, and self-storage is no exception. The only surprise is the self-storage upswing has lasted so long. Many operators will say the cycle is not over yet, and we are happy to agree with them. Others, however, are beginning to feel the ...More
    December 1, 2002 Michael L. McCune Posted in Articles, Development
  • Storage USA Franchise Program
    Inside Self-Storage recently had the opportunity to interview Ed Ansbro, vice president of Franchising For StorageUSA (SUSA). Following are his comments on the company's program, how it is growing, and what it can do for self-storage developers in all parts of the country. ...More
    November 1, 2002 Posted in Articles, Development, Finance
  • U.K. Self-Storage: Big Money Makes Even Bigger Money
    IN A RECENT ARTICLE, I WROTE ABOUT THE EUROPEAN SELF-STORAGE ENTREPRENEUR'S DREAM or probable reason for investing in self-storage—to build it up and sell it. In September, Norman Galbraith and Alistair Jack realized their dream with the sale of their nine-site ...More
    October 1, 2002 Andrew Donaldson Posted in Articles, Development
  • Conversions
    Converting a bus station to self-storage-roof, fascia, parking and paint. Since the real estate crash of the late 80s and early 90s, conversion of real estate from an absolute use to one of renewed activity has been a challenge to all owners. Whether it is an old mill ...More
    September 1, 2002 Dan Curtis Posted in Articles, Development