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.


  • Flint Creek Seeks JV Partner for Private Mini Storage
      Private Mini Storage Ventures LLC retained Flint Creek Partners LLC to identify an institutional partner for a $50 million programmatic joint venture. With a significant pipeline of investment opportunities already reserved, the proposed partnership will focus on ...More
    May 22, 2005 Posted in News, Development
  • Due Diligence Protects Buyers
    Due diligence is the process of discovery and confirmation of the financial and physical attributes of an investment property. In all too many cases, this important process is rushed or, worse yet, skipped entirely in the excitement of buying a selfstorage facility. But ...More
    February 1, 2005 John H. Gilliland Posted in Articles, Development
  • MANAGERS' WORLD
    I recently signed a management contract on a facility in central California that was a Small Business Administration (SBA) foreclosure. The site had obviously been mismanaged or the SBA would not have taken it back. There was no on-site manager, just a person brought in by ...More
    February 1, 2005 Pamela Alton Posted in Articles, Development
  • Buy vs. Build
    Many investors struggle with the decision to develop a self-storage property from scratch or acquire an existing site. Their answer is likely to be a matter of economics, but additional considerations should be included in the analysis. This trite but true real estate ...More
    February 1, 2005 RK Kliebenstein Posted in Articles, Development
  • 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