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.


  • The Beauty of Mixed-Use Development
    In the mid -’60S, state-of-the-art self-storage facilities were generally in remote, industrial sectors. Land was cheap, construction aesthetics were nonexistent, and the “Field of Dreams” approach was the sole marketing strategy. Since then, all aspects of the industry ...More
    October 1, 2005 Jeff Eckols and Mike Parham Posted in Articles, Development
  • The Cost of Storage Development
    The recent explosion of self-storage building has left many developers— seasoned owners as well as neophytes—questioning if it is a prudent time to build. The primary issue is risk vs. reward. The days of yields in the 14 percent to 16 percent range are over. Even the ...More
    September 1, 2005 RK Kliebenstein Posted in Articles, Development
  • Extreme Land Utilization
    Self-storage facilities of three or more floors are becoming increasingly common in heavily populated areas where land is scarce and expensive. Economics and the law of supply and demand necessitate multistory building, often with one or two basement levels. But designing ...More
    September 1, 2005 Ariel Valli Posted in Articles, Development
  • Insight to a Great Site
    Self-storage has changed dramatically over the past 30 years. The industry has become more refined, high-tech and competitive. In the '70s and '80s, the challenge was to convince potential customers they needed storage. Today’s goal is to convince prospects they should use ...More
    September 1, 2005 Erik Hermes Posted in Articles, Development
  • Starting Small
    As the saying goes, “Good things come in small packages.” Twenty-five years ago, I could barely fit a computer on my desk; today, I can tuck one in my briefcase. My cell phone is about the size of a pack of Tic-Tacs and will take a picture. Video cameras, televisions and ...More
    September 1, 2005 Melissa Hermes Posted in Articles, Development
  • The Burning Question
    To build or not to build is the biggest question facing today’s self-storage developer. When considering a plan, he has to examine a number of critical issues to ensure a viable and profitable project. Some considerations are whether the area can support more storage, how ...More
    September 1, 2005 Jamie Lindau Posted in Articles, Development
  • Getting to ‘Go’
    Perhaps one of the greatest analogies for the real estate business is the game of Monopoly. During play, there are opportunities for easy money when you pass “Go”—if you don’t draw the wrong cards. But getting to “Go” isn’t the objective of the game. Neither is it the goal ...More
    September 1, 2005 Victor Lopez Posted in Articles, Development
  • Metro Storage Expands Services
    To satisfy growing demand from institutional investors, Metro Storage LLC of Lake Bluff, Ill., is expanding its self-storage management services. ...More
    August 8, 2005 Posted in News, Development
  • Casaforte's Choice
    Casaforte Self-Storage, an industry leader in Italy and Switzerland, has become known for highly specialized services and distinctive architectural design. Established in 2001, the company is managed according to the same standards adopted by major U.S. and European ...More
    July 1, 2005 Sabrina Tordo Posted in Articles, Development
  • Profile of a Canadian Storage Market
    The most mature self-storage market in Canada is Vancouver Lower Mainland, British Columbia, where the first facility was developed in 1975. Today, the industry is flourishing, with rents and occupancies up, cap rates down, and supply and demand in balance. A construction ...More
    June 1, 2005 Candace Watson Posted in Articles, Development