No announcement yet.

Found a location, now what?

  • Filter
  • Time
  • Show
Clear All
new posts

  • Found a location, now what?

    Good afternoon all,

    I've been reading a ton on this site over the last few months and have learned a lot. Thanks!

    I've been in the real estate industry for about 10 years, albeit on the finance side. I've been a lender on a number of self-storage deals (acquisitions and refinancings) but I'm pretty green when it comes to development. That said, I have the opportunity to acquire a piece of land in NJ (where I'm from) which I've determined to be an excellent location for a facility. I have a relationship with the seller, and will likely be able to acquire the property in an off-market deal. I've also had very preliminary discussions with the town as the property is not currently zoned for self-storage. While I try to figure out the right price to offer (which will be contingent on receiving the OK from the town), much of this depends on what size facility I can build, the right unit mix, etc. Need some help or recommendations for a solid consulting firm to help me determine the right size, whether I should consider building in phases, and most importantly, if they confirm my hunch that this is, in fact, a good location for a self-storage facility. Any help would be greatly appreciated!

  • #2
    Welcome to the forum samstorage, I see you have been a "lurker. Someone here will be able to point you in the right direction.
    "Never let the inmates run the asylum!"


    • #3
      Hello Sam,

      I would recommend that your next step would be to get a Professional Feasibility Study done for the site you have chosen. Find out if more storage is even needed in that area. Then a Site Plan to see what will fit.

      See for more info on Site Planning.



      • #4
        For feasibility check out Jay Graham of Self Storage Advisors -


        Latest Topics


        • Alen2611
          Today's Technology and the Leap of Faith to change from outdated methods
          Hello Everyone, I'm a firm believer that not one size fits all, I believe that in the storage world all of us have a unique way of handling operations at our facility. However, I'm quite curious to know that in spite of having many advanced options that could save time and make the work of Storage Operators/managers...
          It's working Fine NOW, Why the Change?
          Afraid to adapt to Technology
          Doubtful on the time to be invested in the "Learning Curve" to understand the tool
          Don't trust the web with secure tenants data
          Today, 03:57 PM
        • Dave Scott
          Reply to Abandonment or Auction?? Weird Situation
          Dave Scott
          Big mistake of putting your lock on the unit, you created a liability for your self. Being very nice and helpful (which you meant to be) can back fire on you.
          Yesterday, 06:59 PM
        • mmidgley
          Reply to Abandonment or Auction?? Weird Situation
          I dont see how putting a lock on a unit and putting the keys in their file, makes the office responsible for it.

          I wouldn't personally mail keys....
          Yesterday, 04:22 PM