Unless you're buying an existing facility with no plans for updates or expansions, then getting into the industry means some amount of construction. This is especially true for completely new builds. Thankfully, our expert panelists have the experienced take you're looking for when it comes to self storage construction. Listen in and learn about hurdles you'll face, timelines, and how important it is to choose the right team.

Featured Speakers: Nigel Kreft & Jeremy Rollwitz
Moderators: Tommy Nguyen & Melissa Huff

Category: Construction
Focus: Owners & Operators
Aired: July 28, 2022
Duration: 1:27:17

Overview

If you don't have time to watch the whole Session, here are some of our favorite parts:

• At 5:55, our panelists open the session by giving advice on how to know when and where to build your storage facility.
• Answering a question from the audience at 10:20, Jeremy tells us how—exactly—to find a vendor to get a feasibility study done.
• 13:00, Jeremy and Melissa discuss whether or not to go with your bank's recommended feasibility study vendor.
• Starting at 15:40, our guests discuss how to know if the market is ready for your to build.
• At 18:40, Nigel tells us what time of year is best to build for the different regions of the U.S.
• Jeremy adds at 19:45: Plan for delays.
• Beginning at 22:40, panelists talk about the differences between new builds, expansions, and conversions.
• At 28:30, our guests talk about major decisions owners might need to make regarding construction.
• From 30:35, Nigel breaks down why good communication with your stakeholders and team is key.
• At 37:43, multistory construction takes center stage with a discussion about the pros and cons of building vertically.
• 40:10, panelists talk about the pros and cons of climate-controlled storage from an owner's perspective.
• Starting at 43:15, Nigel breaks it down with a step-by-step guide to building a self storage facility.
• 49:20, panelists discuss how involved an owner should be in construction.
• At 53:55, Nigel tells us what red flags signal that an owner should start asking more questions.
• 56:18 - A material lightning round where Nigel and Jeremy give us their thoughts on different building materials and structures from slab to steel to gates.
• Our live Q&A starts at 1:06:00, with our guests answering a variety of questions from the audience.
• At 1:21:48, our experts answer the Question of the Week!

Resources

• radius+
• stortrack

Question of the Week

We asked our experts: What are the biggest blindspots operators have when starting a construction project?

Yea, totally agree. It's a time and cost equation. So go in eyes wide open. Understand nothing is perfect. Construction has its hurdles... Construction is not a quick process. From feasibility to door opening, it is not a fast process. And a lot of those hurdles are put in by local municipalities." - Nigel Kreft

Overall cost, time on the project, delays, planning to get it right. Those are all—generally, if you're new in the industry, those are some blinds spots you'll see." - Jeremy Rollwitz

Gabfocus Takeaway

Construction can be pricey and time-consuming. You might think that you've budgeted time and money properly, but you should always expect unforeseen delays and costs. Put together a great team of people with experience in the self storage industry because they'll be able to give you better estimates and keep you as close to your target budget and timeline as possible.

And please, get a feasibility study!

What are Gabfocus Sessions?

Gabfocus Sessions are virtual workshops for self storage owners, managers, and operators. Brought to you by the team behind Gabfest: StoragePug and Affordable Storage Guys Management.

Each session features hand-picked industry pros who will dive deep into relevant topics surrounding our industry, share best practices, and explore trends in the market. It's our hope that these sessions help you navigate your self storage business better during these uncertain times.

Want to learn more about self storage? Join us on select Thursdays for Gabfocus.