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.
Self-Storage Conversion Project Gets Initial Approval in Pomona, Calif.
The city council in Pomona, Calif., this week approved to issue up to $9.3 million in recovery zone facility bonds for the construction of a business center that will include a self-storage facility. ...More
$15M Self-Storage Project Being Built in Bahrain
Bahrain-based Al Khaleej Development Co. (Tameer) has begun construction on a $15 million self-storage project called Takhzeen. ...More
Elephant Holding Opens Self-Storage Facility in Budapest, Hungary
Real estate developer Elephant Holding Zrt. opened a new self-storage facility in a district warehouse of Budapest, Hungary, near the airport. ...More
Self-Storage Facility Opens in Mixed-Use Development in Thailand
StoreGuard Company Limited opened MY STORAGE in August in the Jungceylon Shopping Center in Patong, Phuket, Thailand. ...More
Construction of Self-Storage Facility Approved in Glendale, Ariz.
City council members in Glendale, Ariz., unanimously approved the development of a self-storage facility, gas station and restaurant on a vacant 6-acre site. ...More
Self-Storage Talk Discussion: NIMBYism Among Facilities?
Self-storage facilities are often victims of NIMBYism. A large percentage of people stereotype self-storage facilities as targets for thieves and transients. But similarly, some have suggested that self-storage owners and operators fall into the trap of NIMBYism themselves. ...More
Turning Development Obstacles Into Opportunities: A Case Study of Ranson Self-Storage
When the Arcland Group set out in late 2008 to develop a new self-storage facility on a parcel of land in Ranson, W.V., the deck was stacked against them. Learn how the architectural firm and builder used the site layout challenges to create a unique and successful ...More
Self-Storage Developer Asks Urbandale, IA, Council to Amend Fire Code
A self-storage developer in Urbandale, Iowa, has asked city council members to amend the fire code so he wouldn’t be required to install a sprinkler system at a proposed site. ...More
Minh Tran Joins The Jenkins Organization
Minh Tran has joined The Jenkins Organization Inc., a Texas-based commercial real estate and development company, as director of storage acquisitions. ...More