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.


  • Next Gen
    We have all heard people refer to self-storage facilities as being first, second, third or even fourth generation. I’d like to talk about what might be the next generation of self-storage: small facilities with no on-site management. We normally see these types of sites in ...More
    February 1, 2005 Charles Ray Wilson Posted in Articles, Development
  • Development Potential in Self-Storage
    There are those in the self-storage business who claim the market is getting “overbuilt.” While there are geographic pockets in which this appears to be true, we may actually be seeing some upward movement in national storage development. Ours is a real estate business, and ...More
    February 1, 2005 David Blum Posted in Articles, Development
  • Raised Rates Means Raising the Bar
    In December, the Federal Reserve raised interest rates for the fifth time since June 30, when the Open Market Committee began a trend that would increase the federal funds rate—the interest rate at which banks needing overnight loans borrow surplus reserves from other ...More
    February 1, 2005 Teri L. Lanza Posted in Articles, Development
  • Noah’s Ark Development
    Mike Parham, founder of Texas-based Noah’s Ark Development, heard a call to create more than a successful self-storage business. In 1996, he formed the In His Steps Foundation (IHS), a nonprofit organization designed exclusively for charitable, religious and educational ...More
    November 1, 2004 Kimberly Hundley Posted in Articles, Development
  • Inside Self-Storage Magazine 10/2004: Construction Corner
    Construction Corner is a Q&A column committed to answering reader-submitted questions regarding construction and development. Inquiries may be sent to construction@ministorage.com. Q: I am looking to remodel my management of. ce and would like to build a security ...More
    October 1, 2004 Posted in Articles, Development
  • Inside Self-Storage Magazine 09/2004: Construction Corner
    Construction Corner is a Q&A column committed to answering reader-submitted questions regarding construction and development. Inquiries may be sent to construction@ministorage.com. Q: I have heard about cameras that use existing 120VAC power lines for their video signal ...More
    September 1, 2004 Posted in Articles, Development
  • Unit-Mix Menagerie
    Many changes in construction and unit mix have taken place in self-storage over the last 35 years, and a lot can be learned from past experience. Take, for example, three older projects: one in New Jersey with 600 units, all 5-by-10s; another in South Florida with 600 ...More
    September 1, 2004 Dan Curtis Posted in Articles, Development
  • Storage Development: Cleary Defined
    Storage Development: Cleary DefinedCost-effective solutions to the construction process By Bret Ellis The most important aspect of self-storage construction is proper planning. Building should be treated like any other business venture and pursued with a complete ...More
    September 1, 2004 Bret Ellis Posted in Articles, Development
  • The Next Level
    The Next LevelMultistory gives self-storage development a lift By Tyson Hermes and Erik Hermes The self-storage market has begun to saturate in many areas of the country. As a result, developers have found it necessary to put facilities on premium property. New developments ...More
    September 1, 2004 Tyson Hermes and Erik Hermes Posted in Articles, Development
  • Site Selection
    Site SelectionScience or seat of the pants? By RK Kliebenstein Some people are fortunate enough to have the Midas touch when it comes to selecting self-storage sites. The rest of us, however, need concrete guidelines and a lot of luck. What would constitute the ideal ...More
    September 1, 2004 RK Kliebenstein Posted in Articles, Development