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 Phase I Environmental Site Assessment
    The Phase I Environmental Site AssessmentAn overview of the process, its components, timing and pricing By Douglas A. Olson, P.E. Has your lender required you to have a Phase I environmental site assessment (ESA) conducted on your self-storage facility? Are you are thinking ...More
    May 1, 2001 Douglas A. Olson, Posted in Articles, Development
  • Financial Feasibility
    Financial FeasibilityProving it to your lender By Jim Oakley The good old days of scratching feasibility on the back of an envelope are gone. Yesterday's answers are not good enough for today's lenders. If you don't show profitability simply and clearly at the outset of ...More
    May 1, 2001 Jim Oakley Posted in Articles, Development, Finance
  • The Feasibility Study
    Conducting a self-storage feasibility study should be looked at as more than just determining the viability of a specific location or market area for your project. It should be viewed as the process of determining if you really are suited to be in the self-storage business ...More
    April 1, 2001 Jim Chiswell Posted in Articles, Development
  • Self-Storage Fact vs. Fiction
    Self-Storage Fact vs. Fiction By Kevin Howard There is an old joke about a boy whose teacher assigns him the task of explaining the difference between theory and reality. I have faced this dilemma many times in the self- storage business, and often found theory and reality ...More
    March 1, 2001 Kevin Howard Posted in Articles, Development
  • Inside Self-Storage Magazine 03/2001: Self-Storage in Nicaragua
    Self-Storage in NicaraguaDeveloping in foreign countries takes education, determination...and a lot of patience By Mike Iacoboni Editor's Note: This month's Market Profile is out of the ordinary. Rather than detailing the self- storage climate of a specific U.S. market, ...More
    March 1, 2001 Mike Iacoboni Posted in Articles, Development
  • Inside Self-Storage Magazine 02/2001: Orlando, Fla.
    Orlando, Fla.The Booming East Side By RK Kliebenstein Editor's note: The Market Profile, a new addition to Inside Self-Storage, will focus each month on the state of self-storage development in a unique geographical area. Suggestions for "hot spots" to be examined ...More
    February 1, 2001 RK Kliebenstein Posted in Articles, Development
  • State of the Industry 2001
    State of the Industry 2001Will self-storage's good fortune continue? By Barry Morris After a slow beginning, the 1990s became a decade of unprecedented prosperity for the self-storage industry. New properties emerged in many markets, bringing with them burgeoning consumer ...More
    January 1, 2001 Barry Morris Posted in Articles, Development, Finance, Technology
  • Delivering Customer Service
    Delivering Customer ServiceUsing design and operating guidelines to 'make good' on your promises By Jim Kane To Whom It May Concern: Please be advised that unit #3088 is now clean and unoccupied. For the record, I would like to state I am disappointed in your facilities. ...More
    November 1, 2000 Jim Kane Posted in Articles, Development
  • The Big Financial Picture
    The Big Financial PictureSelf-storage retains its advantages, bright future By Michael Parham True commercial development of self-storage began in the late 1960s by several industry pioneers who recognized a growing demand for residential and commercial storage. These were ...More
    November 1, 2000 Michael Parham Posted in Articles, Development, Finance
  • Site Selection & DesignMaking it work from square one
    Site Selection & DesignMaking it work from square one By Kenneth Carrell The old real-estate adage "location, location, location" remains especially true when it comes to self-storage. With the costs of buildings fairly standardized, it's the cost of the land ...More
    July 1, 2000 Kenneth Carrell Posted in Articles, Development