Since the June floods that left thousands of people homeless in Cedar Rapids, Iowa, self-storage operators have found themselves either full or struggling to recover from their own losses.

February 17, 2009

1 Min Read
Iowa Floods Have Long-Term Impact on Self-Storage

Since the June floods that left thousands of people homeless in Cedar Rapids, Iowa, self-storage operators have found themselves either full or struggling to recover from their own losses.
 
After the flooding, there was a lack of available storage space in the area, and facilities like Adams Storage reaped the benefits. Facility owner Bob Adams says his 100 self-storage have been filled nearly every week since the summer. Green Acres Storage, with facilities in Marion and Southwest Cedar Rapids, remains close to full even though it opened about 200 new units last fall.
 
But other self-storage facilities were adversely affected by the flooding. Add-A-Space in Palo, Iowa, was flooded by about 2 feet water. Owners Dan and Diane Lucore notified renters that the flood was coming, but many couldn't or chose not to move their stuff. Afterward, they worked with tenants to sort through their belongings, providing snacks, drinks and a rest area. The facility managed to reopen in approximately five weeks, though vacancies are higher than before the flood.
 
In general, local storage operators say the market is tight due to contractors who rent units for renovations as well as job losses and home foreclosures that have forced residents into smaller domiciles.

Source: Gazetteonline.com, Area storage facilities seeing boom in demand

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