Over my 46-year property management career I have managed everything from apartments to large 400,000 sq ft warehouses and lots of self storage properties. Some of those storage properties included ancillary real estate / businesses such as small retail...
When considering a self storage conversion, it’s important to understand the most essential factors that either make or break the project. These factors include building requirements, market demand and financial feasibility. In this article, we will...
Self-storage has evolved over the last 40-plus years. In bygone days, developers had a relatively easy time locating a site and building what was essentially rows of garage-type units. Today, it takes tenacity, capital, and sometimes sheer will to...
The self-storage developers of a few decades ago would have been awed by today’s new facilities. The sophistication of our technology, state-of-the-art security, levels of automation, and sheer aesthetics of some properties would have seemed...
If you are a business owner exhausted of renting commercial real estate and considering purchasing versus renewing your lease agreement that increased substantially, you’re in for a rude awakening. The commercial real estate market has been dominated by...
Growth in a community is great; it means more jobs, a growing population, new and fun restaurants, and other such improvements that come with a growing economy. But growth often comes at the expense of history, wiping away the past to make room for the...
Widespread market volatility from the COVID-19 pandemic’s ongoing supply chain disruptions, the Russia-Ukraine war, and inflation are causing unwelcome ripples through much of the world.
The resulting increased costs for oil and all products derived...
A few decades ago, a handful of ambitious 20-somethings working in the light-steel construction industry had a similar vision. Though 2,400 miles apart, both groups saw promise in the fledgling self-storage industry. These startups would both grow to be...
Unsettled world events may have an affect later in year
The self-storage industry has been experiencing a financing windfall for several years and most industry experts say it is still going strong.
However, with continuing rise in inflation, gasoline...
Moderation is the key word for self-storage development in 2022. After peaking in 2018 and 2019, the growth in self-storage inventory has dropped closer to the long-term average and will continue to decelerate – albeit slightly – in 2022 and beyond,...
There is an argument to be made that a functioning roof is the single most important aspect of any facility. Water intrusion goes far beyond the leak itself. Insulation becomes compromised, while ceilings and drywall can be ruined, and this is before...
Heading into the fourth quarter, it’s safe to say that 2021 has been a fairly profitable year for the self-storage industry. Rental rates at facilities across the country have rebounded, investment capital is plentiful, and new development is on the...
Natural disasters, COVID-19, and rising construction costs are proving to be the perfect storm, frustrating owners of new self-storage facilities under construction and those trying to rebuild their businesses following a season of disastrous storms and...
For the self-storage industry, 2020 was an outstanding year with an unprecedented amount of new capital entering the sector. Some of this can be attributed to rising demand for storage as people facing a pandemic adjusted their living situations. Also...
Self-storage as we know it today has been around for more than half a century. While we’ve seen new facilities multiplying in record numbers over the last couple of decades, the market remains filled with aging facilities in need of a facelift in order...
Recent architectural trends in self-storage appear likely to continue in 2021, some industry experts say.
These trends include contemporary exterior designs that meet municipalities’ growing demands that new projects fit with surrounding architecture...
“From humble beginnings come great things” is a saying that isn’t attributed to anyone in particular, but it is definitely fitting as the motto for this story.
On Sept. 17, 1985, Charles Plunkett founded Capco Steel, Inc., at the age of 25. Thirty-five...
You might be thinking, “How are self-storage renovations the same as other business renovations? They are completely different industries.” Although these businesses are not all the same in what they advertise, it doesn’t mean they don’t have the same...
Baja Carports Baja Constructions’ in-house design engineers and project managers place emphasis on the proposed site’s layout first; “fact-checking” the property for its canopy feasibility. It’s important that we are given the exact address of the...
From vacant big box buildings and urban infill locations to parcels in secondary markets or municipalities with high barriers to entry, there is no shortage of potential sites for self-storage developments. Nevertheless, not every plot is practical for...
The days when storage facilities consisted of rows of single-story metal buildings sprawled out over large parcels within industrial locations seem to be nothing more than a distant memory in 2017. While the industry’s iconic roll-up doors are still a...
The Most Diverse Generation With One Common Trend
As one of the largest generations, millennials are a constant topic of discussion. Businesses of all sizes are trying to figure out the best way to appeal to this large and diverse demographic of the...
Finding the Right Path for Permits and Zoning
New self-storage facility developers have generally had luck moving their projects from the industrial and warehouse zones areas of many cities, but that doesn’t mean they’re not facing challenges from...
Trends In Self-Storage Design
By Judy Colbert
“When the last recession hit,” says Ken Carrell, principal of ARE Associates in Lake Forest, Calif., the city of Escondido, Calif., had “about 32 square feet per person in self-storage when the national...
Exploring Tertiary Markets
Growth—it’s the universal trend of post-World War II America. When our central cities, and later our suburban areas, expand in total population and in density, the economic forces of nature point prospective investors in new...
In the game of Monopoly, players move their piece around the board in an attempt to purchase as many properties as possible. When a player has procured all the properties within the same color group, he/she can begin building houses, and eventually...
One of the best things about my position as senior vice president of facilities at Extra Space Storage is that I get to oversee our solar power program. Adding solar power at many of our stores has been a positive experience, and I hope that sharing...
Has The Industry’s Development Cycle Passed Its Peak?
The self-storage industry has been living in a fantasy world for the past few years, a kind of mercantile paradise where net income always climbed, buildings were fully occupied, the cost of capital...
Step-By-Step Instructions For Two Do-It-Yourself Options
By CJ Steen
One of the toughest questions when remodeling anything is what color white did I originally pick? Was it cream, eggshell, ivory, Navajo, vanilla, seashell, snow, baby powder, old lace,...
How To Make Wine Storage Work
It’s been said that you can make bad wine from good grapes, but you can’t make good wine with bad grapes. The same principal holds true for wine storage. In the wrong market, even the best wine storage facilities will do...
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