CISL Site Location Acquisition and Development Services cover all Property Types.
We are Land Specialists!

Below is a detailed description of our site location acquisition and development services for Self-Storage, which can be tailored to your specific Property Type

CISL in collaboration with its peers is able to provide its clients with experiences and services that utilize the top professionals in their respective fields. Clients have the option to utilize individual services or can benefit from CISL’s Self- Storage expertise in assembling the most qualified team for a Self-Storage project in a particular jurisdiction to handle the conversion, acquisition, and development of the Self- Storage project from start to finish.

The development team’s expertise takes the project from start to finish from concept to predevelopment to construction through to an operating property. The team will prepare a timeline, determine the discretionary hearings that may be required, attend all community and jurisdictional hearings, address concerns, and provide alternatives to facilitate resolution of project issues. Construction Bids from multiple third party providers enable us to accurately estimate expenses, yielding an honest assessment of construction cost. The construction team will manage the budget, schedule and track all permitting and approvals.

SITE LOCATION ACQUISITION AND DEVELOPMENT SERVICES for SELF-STORAGE include:

LOCATING SELF-STORAGE SITES:

Researches and locates Target Properties; larger properties with excess FAR are evaluated for Self-Storage as part of a Mixed- Use Project; we are cognizant of value added redevelopment opportunities, under performing assets and distressed properties in need of redevelopment, and maximizing and utilizing excess FAR. We evaluate the benefits of a Mixed-Use Project, Planned Unit Development (PUD), or a Transit Oriented Development (TOD) Project and the inclusion of self-storage as a possible or alternative component.

MARKET ANALYSIS:

Analyzes and Forecast Market Trends (anticipating adjustments in real estate cycle) and Demographic Growth; evaluates land-use and zoning and determine what factors may contribute as a barrier to entry for self-storage; evaluates how Jurisdictional Government Regulations impact Self-Storage Development; projects the political Probability of Success in obtaining a Self-Storage Building Permit; performs Supply, Demand and Absorption Modeling; provides a rent matrix for the competition and suggested unit rent rates for the project;

SELF-STORAGE COMPETITION:

Determines the number of existing and proposed Self-Storage Facilities in the Market Area ; provides a Self-Storage Aerial Competition Map; provides for each competitor, the gross rentable square foot (GSF) and estimates the net rentable square foot (NRSF); calculates per capita square footage per person in 1, 3, and 5 mile radius; estimates Occupancy Rate;

FEASIBILITY STUDIES ANALYSIS AND INTERPRETATION:

• Secures existing Documentation, and Studies for the property, prior to or during the Feasibility Study Period;
• Orders, Title, Survey, and Phase 1 Environmental Study, and Phase 2 Environmental as required; provides Tax Map Aerial Overlays, and orders Aerials as required;
• Determines if the property is adversely affected by Topography, Soils, Wetlands, Floodplains, Forest Buffer Areas, Resource Protection Areas (RPA), Proffers, Covenants, and Easements;
• Reviews Zoning, Zoning Overlays, Land Use, Comprehensive Master Plans, Adequate Public Facility Fees (APF), Impact Fee, other Jurisdictional or Development Fees, and Property Tax Rates;
• Reviews Utility availability and Proposed and Planned Transportation Projects that have received Capital Funding; obtains Average Daily Traffic Counts;
• Reviews Parking Regulations, Green Area Requirements, Storm Water Management (SWM) quality and quantity regulations;
• Determines the Maximum Height and Density for the Project; calculates the Projects Gross Square Feet (GSF) and Net Rentable Square Feet (NRSF); estimates Unit Absorption Rate for the Project;
• Prepares Project’s Initial Layout, Design, and Unit Mix;
• Prepares a narrative or Board Package for presentation to the contracting entity;

ENGINEERING AND ARCHITECTURAL SERVICES:

• Reviews Survey, Utilities, Ingress and Egress, Topography, Soils, Wetlands, Floodplains, Forest Buffer Areas, Resource Protection Areas (RPA), Proffers, Covenants, Easements, and Traffic Studies;
• Prepares Civil, Structural, Conceptual Drawings, and Preliminary Site Plans; addresses Jurisdictional comments and resubmits Site Plans as required;
• Solicits Project Bids, utilizes Vender Resources and estimates the Total Project’s Cost to include Site Work, Storm Water Management (SWM), Road Infrastructure and Off-Site Improvements; Construction, Construction Management, Construction Supervision, Developer Fees, Bonding, Adequate Public Facilities Fees, Utilities and Utility Hookup Fees, Inspection Fees, and Environmental Remediation to include No Further Action Letters, Mitigation, and Monitoring Estimates as the case may be;
• Prepares Timeline for Site Plan Approval, Building Permits, Unappealable Building Permits, Construction and Use and Occupancy Permit;
• Schedules Pre and Post Planning Meetings with Jurisdictional Entities and Community Groups to present the Project’s Conceptual Layout and Design, and Preliminary Site Plan; determines the Project’s Political Support Level; addresses the concerns of Jurisdictional Entities and Community Groups; provides alternatives to facilitate resolution of project issues; determines the Discretionary Hearings that may be required;

LEGAL & TITLE SERVICES:

CISL assembles the Legal Team and oversees preparation of complex legal documents, contracts, and amendments. Legal Services are available for Contract Preparation, Zoning and Land Use Issues, Environmental Law to include No Further Action Letters, Environmental Remediation, Mitigation, and Monitoring, Risk and Liability, Arbitration and Litigation; Entity Formation services are available to include Operating Agreement, Management Agreement, LLC’s, Joint Venture Agreement, 1031,1033 Exchanges; International Law Services are also available;

Title Services: Title Commitment, ALTA Title Insurance Policy, Deed Preparation; Closing and Recordation Services; Closing Costs to include Proration of Property Taxes and Assessments, Utilities, Real Property Transfer Taxes, Transaction Taxes, and Recording Fees;

FINANCE: YIELD, FINANCING, AND DEBT SERVICE:

Provides Proforma Yield Analysis and NOI Projections before Debt Service; Estimates Site Development and Construction Costs; calculates Income and Expenses; researches and provides information on State and Federal Tax Incentives; projects the Project’s Budget and Yield; Provides Financing and Debt Service alternatives;

FINANCE: REAL ESTATE VALUATION:

Determines the Highest and Best Use: provides Valuation of potential sites pre and post Self Storage Permits; provides a Valuation Matrix with Discounted Cash Flow, Direct Cap Rate, Terminal Cap Rate, and Internal Rate of Return (IRR); provides Excel and Argus Spreadsheets; provides Valuation and determines the best use for the disposition or sale of surplus properties;

TAXES: Provides Current Taxes and Projected Taxes upon completion of the project, and at 90% Occupancy;

PROJECT MANAGEMENT:

Assembles, coordinates, engages, and manages the Engineering, Architectural, Environmental, Legal, and Management Team for each Acquisition, Conversion, and Development Project from start to finish; estimates the timeline for permitting, and closing;

Operational as well as Call Center Services are available for the Absorption & Leasing of the Project; provides Leasing and Absorption Timeline Estimates for the Self-Storage Facility;

VENDORS: we provide third-party vendors for Self-Storage, and for other Asset Types and Real Estate Sectors;

FACILITIES MAINTENANCE AND MANAGEMENT:

Contracts for the Project’s Facilities Management and Maintenance; projects the Capital Expenditure (Cap X) Estimate;

MARKETING:

CISL utilizes, regional, national, and international marketing databases, along with our internal proprietary databases, and provides regional and national brokerage representation throughout the United States in coordination and by arrangement with affiliated regional and national brokers.