SELF-STORAGE SITE ACQUISITION CRITERIA
If you are a property owner or entity, broker, or financial institution, with a property or project, we would enjoy speaking with you to discuss:
- Your existing self-storage facility
- Your conceptual ideas for a self-storage project
- To locate a property for self-storage development based on yield or cap rate, or for market penetration
- Self-storage as part of your proposed or existing Mixed-Use Project
- Sale of your self-storage facility, and its Cap Rate
(refer to Market Insights Self-Storage under MORE » for current Self-Storage Market Trends, and Self-Storage Cap Rates) - Or if you have a self-storage acquisition, conversion, development, or redevelopment opportunity for us to discuss
We will provide you with an honest evaluation outlining the positives as well as the negatives.
SELF-STORAGE SITE LOCATION CHARACTERISTICS:
Population Demographics:
Ideally at least:
10,000 within 1 mile radius
50,000 within 3 mile radius
100,000 within 5 mile radius
30% renter occupied within a 3 mile radius.
Self-Storage Density:
Less than 5-8 square feet of self-storage per person
Average Daily Traffic Count (ADT/ 24 hour period) 20,000+ vehicles per day
Logical ingress and egress
Visibility from a major artery; except in market areas with dense population and high income demographics
Self-storage Property Site Requirements:
Zoning by right, special exception, variance, or by jurisdictional approval to allow the conversion, development, redevelopment, construction of a minimum of 65,000 NRSF (Net Rentable Square Feet) of self-storage including above and below grade construction.
We will consider 100% below grade construction in market areas with dense population and high income demographics, where there is a barrier to self-storage entry.
Existing Self Storage Facilities:
Contain a minimum of 65,000 NRSF (Net Rentable Square Feet) or have the capacity to be expanded to a minimum of 65,000 NRSF (Net Rentable Square Feet), including above and below grade construction.
Self Storage Facilities Target Areas:
Our primary focus is in Maryland, Battimore, Virginia, Northern Virginia, Fairfax County, Prince George’s county and Washington DC and high barrier to entry, high growth gateway markets located primarily within the Mid-Atlantic, and in specific markets throughout the United States.