Inside Self-Storage

SEP 2018

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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H e n s n o t l a y i n g e g g s ? C a l l i n t h e f o x . VISIT LOCKERFOX.COM/OPERATORS OR CALL (704) 251-0644 Online auctions are growing up The goal is to maximize the net rentable square footage. You need a site that'll accommodate a minimum of 50,000 square feet, constructed all at once or in phases. The layout is primarily a product of the shape and topography of the land parcel, but many other factors come into play, including: • Fire code and use of fre equipment (with the possible requirement of automatic fre-suppression systems) • Storm-water rules in your municipality • Other local zoning rules with setbacks and landscaping requirements We normally factor in all the setbacks, easements and storm-water restrictions first, and then sketch the layout. Next, we try to determine how much climate-controlled vs. non-climate-controlled storage can fit on the site. Then we look at accessibility to each of the buildings and individual units, ensuring it'll be easy for customers. If it isn't reasonably simple for tenants to drive in, get to their unit and store, they'll go elsewhere. The takeaway is you need to find the right site and design the unit mix and layout based on the market. Doing your research and spending time with professional engineers and planners will help you succeed in your first self-storage development. Remember, it's a process that'll involve a considerable amount of your time and money, but the reward will be worth it. Jeffrey B. Turnbull is president of Kodiak Mini Storage II LLC. He's been involved in the self-storage business as a developer, operator and owner for more than 20 years, and is currently developing a new store in Charlotte, N.C. He's a licensed attorney in North Carolina, a licensed real estate broker in North and South Carolina, and a past president of the North Carolina Self Storage Association. He's a regular contributor to "Inside Self-Storage," and a speaker at various industry events. To reach him, e-mail Lucas J. Turnbull is a project manager for Kodiak Mini Storage II LLC. He's overseeing the construction of a new 65,000-net-rentable-square-foot facility in Charlotte, N.C. A graduate of Clemson University, he's a licensed real estate broker in North Carolina. To reach him, e-mail Kodiak Mini Storage in Concord, N.C. September 2018 I ISS 29

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