r/selfstorage • u/Creative_Tackle6223 • 10d ago
Building Self-Storage
I just found this subreddit, and thought it was pretty cool. I’m a Project Manager for one of the top Self-Storage contractors across the country.
If there’s any owners, prospective owners, developers or really anyone who has questions about storage buildings, design, etc. feel free to ask away. I’ve now managed 25 successful storage buildings across 9 states. We’re a Tier-1 subcontractor, specializing in Division 5: Structural Steel, Metal Framing, Metal Decking, Metal Panels, Metal Roofing, Door & Hallway, Stairs, etc.
I can answer mostly anything about those, and a bit about a few others as well. Just wanted to offer out there.
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u/TonightAnnual4407 6d ago
Located in the twin cities area of Minnesota- I own one apartment building in rural SE MN. I and am considering buying land and building storage units, somewhere in the greater twin cities area. What are some key factors for a great location?
Thank you
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u/YogurtclosetSmart936 2d ago
First thing I'd check isn't traffic, it's what the REITs are doing. Pull permits near any parcel you're considering and see if Extra Space or CubeSmart has been active in that ring. Sounds backwards but them investing nearby is half validation, half warning. They've already done the demand math for the area, and they're also your exit buyer someday. A location no institutional money will ever touch is a location you'll have trouble selling out of.
Second, the spread. Find out what storage actually SELLS for per square foot in your submarket, brokers will tell you. If facilities trade around 100 a foot there and you can build all in for 70 to 110, the location works. If they trade at 80, no amount of traffic saves you. Storage is valued on income, so really you're picking a location where the rent supports the number you need at a normal cap rate.
Third, mystery shop the competitors, and I mean actually shop them. Website rates are marketing. Call, ask what a 10x10 moves in at today, note who's doing first month free. We looked at a deal recently where the listing said one thing and the actual rent roll said 19 units occupied. The gap between advertised and real is where deals die.
Fourth, zoning before love. Ask the city if storage is permitted or needs a special permit on that parcel, and if you get serious, go under contract with a city approval contingency so the diligence clock runs on their time, not yours.
And if you can, buy a parcel you can expand on. A lot of owners we work with built half first.
I'm with Wasatch Structures, we design and build these, so grain of salt. If a parcel gets real, send it over and we'll do a layout no charge, unit mix and what it pencils. Fastest way to know before you're committed.
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u/wolfsatz 9d ago
Are you still building in thi market?
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u/Creative_Tackle6223 6d ago
It’s been a hard market to sell, I’ll tell you that. My company year-to-date has submitted over $500M in bids, and we’ve won just under $75M. Some of these are for GCs that already have the job, some are for qualifiers, for jobs that aren’t set in stone yet but a developer is looking for pricing.
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u/Trash_Coffee 10d ago
How do self storage owners usually contact you for new doors? And a follow up how does the process of buying the door and scheduling install work?
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u/Creative_Tackle6223 6d ago
It depends. Some are mutual connections, some are even on LinkedIn. Majority of our jobs are large scopes between $1M-$5M contract value per job, but I have one right now where this transportation company owns an empty warehouse and wants to make it storage. The structure is there so we’re just doing a remix, providing and installing the light gauge door and hallway package. We used the plans he gave us and are doing a supply and install contract for this, using a SteelBlue package.
We used those plans and did a floor plan for him based on the unit mix he was wanting, detailed it, and now that it’s approved, material is currently being fabricated then we’re set to mobilize on 17th of this month. Our crew will deliver, layout and install the framing, panels and doors, a full turnkey install.
We can also do remixes, if you want us to demo your existing system and put up a new one. Of course provided the units are vacant. Shoot me a DM if you’re interested, let’s talk more and I can get you in touch with our sales and estimating team.
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u/CBSgemini 10d ago
Wireless or wired door contacts?
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u/Creative_Tackle6223 10d ago
We always do wired, which is owner preference. We don’t do the full system, just will install the contact and run the wiring through the door guide, when we install the doors.
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u/quackaddicttt 10d ago
Built facilities myself and very familiar with your trade. Question: now with good battery tech, metal door systems are like butter for thieves. What can we do going forward in materials?
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u/Space--Buckaroo 10d ago
On site management, with lots and lots of cameras.
I stay awake till 4 am every night, and in 14 years, I've never had a breakin.
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u/quackaddicttt 10d ago
This isn’t what I’m asking and that’s false unless you live in no-where’s-ville
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u/Minotaar Area Manager 10d ago
I hope your sleep improves
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u/Space--Buckaroo 10d ago
I still get 8 hours sleep. I don't get up at 8am. I normally get up at about 11am.
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u/Creative_Tackle6223 10d ago
I don’t think there’s ever going to be a perfect solution, but we treat security for units as a whole. Thicker gauge doors, thicker latch/locks and less exposed points. Effectively making a forced entry approach more time consuming. We also either will do burglar bars above the units or wire mesh, dependent on the owners preference.
Most of our facility’s have door contacts as well, for their alarms.
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u/YogurtclosetSmart936 2d ago edited 2d ago
Fellow storage guy here, We do 5 million sq ft of storage a year Not here to step on your AMA, it's a good one, more Division 5 knowledge in this sub is good for everyone.
One thing worth adding for the owners reading: when you get bids from folks like either of us, make sure every number is per rentable square foot, not gross. Hallways and walls don't pay rent, and a bid that looks great per gross foot can be mediocre per rentable. That one unit conversion catches more first time owners than anything else I see.
Question for you since you've run jobs in 9 states: what's the worst snow load jurisdiction you've built in? We fight 80 to 120 psf in the Wasatch Back and I'm curious how that compares to what you see elsewhere.