}
30 Sep, 2016

Storage Building Central – Build Your Own Storage Facility

On paper, self-storage development seems like an easy and profitable way for people to get into business for themselves. The buildings can be the most basic construction available, and there just doesn’t seem to be a downside. In reality, once you get into the process, it’s much more complicated than it looks. A new storage building developer must make many choices today that will impact him for decades to come.

The bad news: In the last five years I’ve seen more people go bankrupt building self-storage than in the previous 20 years. In most cases, factors leading to failure include building in a poor location, building too many units, or construction costs that couldn’t be supported by the area’s rental rates.

The good news: In the last four years, there has been limited new development, allowing time for existing facilities to fill and stabilize. As a result, there are more opportunities for a new developer to locate a building site where demand exists. Here’s an in-depth look at the key areas every new owner or developer needs to understand when building a new facility.

4 Comments on this post
Claude English 11/10/2017

LOOKING FOR A PRESS BOX SOLUTION FOR BASEBALL COMPLEX WITH LOWER LEVEL STORAGE.

    Stephan Michaels 03/28/2018

    Hi Claude! Sorry for the delay in response. If you still are in the market for that press box solution give our building specialists a call at +1(844)315-3151 so they can go over details with you. Thanks!

Chelsea Estep 03/07/2018

I’m interested in exploring the demographic aspect. Would it be better to need more units or have some empty? Any ideas for a happy medium. How Mom and Pop can a facility be?

    Stephan Michaels 03/28/2018

    Hi Chelsea! Thanks for dropping us a line! Please give us a call at 1-844-315-3151 so our building specialist can go over details with you and make sure you are on the right track.