What’s Driving Climate Controlled Self-Storage Construction?
While it might not sound like the most glamorous investment opportunity, an article in the latest issue of REIT magazine is bullish on self-storage. In the past 20 years, demand for self-storage has climbed steadily—and has been one of the fastest-growing sectors of the United States commercial real estate industry. According to the Self-Storage Association, the official trade organization of the industry, there were 2.5 billion square feet of self-storage space in the U.S. at 90 percent occupancy rate as of 2015. Joe Margolis, CEO of Extra Space Storage, tells REIT that “… the sector has turned into a hotbed for new investment.” One type of facility in particular — multi-story climate controlled self-storage—is increasingly popular for several reasons.
4 Benefits of Climate Controlled Self-Storage
REIT magazine notes that demand for these “… ‘third-generation’ facilities that look like apartments or offices and include climate control” is growing. That’s precisely what Miller-Valentine Group discovered in Goose Creek, South Carolina, where they recently commenced construction on a climate controlled self-storage facility. Two other CCSS projects are also in the pipeline—a second location in Goose Creek and another in the nearby city of North Charleston. Steve Koewler, President of Commercial Southeast Construction and Development shared more about the projects—and the reasons why the CCSS facilities underway are the answer to local residents’ and businesses’ needs.
- Convenient locations—Ours is a mobile society—and the convenience of always-available digital connections has influenced peoples’ expectations in other ways. Self-storage may have been relegated to the edges of communities in the past, but consumers today want to pop in their storage unit to and from work or on the way home from the grocery store.
- Flexible design—The lack of availability and the rising cost of land requires developers to use a more innovative approach by fitting self-storage facilities into high-traffic areas for easy access. The current Goose Creek CCSS construction project was designed with the architectural aesthetics of the area in mind. Designed to look more like an office building than a traditional self-storage facility, the multi-story facility provides plenty of storage in a smaller footprint, well-suited to the surrounding retail and multi-family buildings.
- Climate control—Temperature fluctuations and moisture are the enemies of peoples belongings whether you’re storing a mattress, high-end electronics or grandma’s heirloom sideboard. Climate control offers customers piece of mind that the items they store will remain in good condition despite the heat and humidity of the region. CCSS is perfect for all other climate zones as well.
- Safe environment—Traditional self-storage facilities are not the most inviting places to visit. Often poorly lit, the layouts can leave you feeling exposed and vulnerable. When the Goose Creek facility opens, security cameras, good lighting and music playing in the background will make it feel more like an office than a storage unit—ensuring visitors enjoy a pleasant and safe experience.
Two of the most common ways that people choose a self-storage facility are by using an internet search engine for ‘storage near me’ or by seeing it along the routes they drive frequently. Whether someone wants to downsize to join the tiny house movement or chooses apartment living to stay close to amenities ranging from recreational activities to nightlife hotspots, they may need convenient storage for bicycles, kayaks or the accouterments of their hobbies. With high visibility in a well-trafficked area—and all the bells and whistles that residents and businesses want—the Goose Creek climate controlled self-storage facility promises to fill their needs, beautifully.
Talk to Steve Koewler if you’d like to know more.