Construction & Development
This track is intended to assist self-storage developers, investors and owners with facility research, acquisitions and building. Topics include feasibility, multi-story construction, solar energy and others.
Wednesday, March 14
9-9:50 a.m.
Self-Storage Feasibility Due Diligence: It's a Requirement, Not an Option
Speaker: Jim Chiswell, President, Chiswell & Associates LLC
Whether you're building a self-storage project on vacant ground, converting an existing structure or buying an existing facility, doing the necessary feasibility due diligence is no longer an option. If you’re thinking about buying or building a self-storage facility, a feasibility study should be considered a requirement for future success. Our presenter will address the critical aspects of preparing a feasibility report or due-diligence review, covering issues of site selection, demographics, competition evaluation, pro forma projections and more.
You will learn:
- Why a location’s demographics are such an important indictor of success
- The factors to consider when reviewing your area competition
- Essentials of designing a unit mix for your facility
- Why the building of your financial pro forma is a good time to be honest with yourself
10-10:50 a.m.
Going Vertical in Self-Storage: Multi-Story Construction
Speaker: Caesar Wright, President, Mako Steel Inc.
Sometimes the best way to maximize land use is to build up rather than out. Multi-story self-storage construction has become more popular as developers seek out high-quality parcels in urban locations or attempt to minimize their land costs. In this session, our presenter will discuss how to best lay out a multi-story self-storage project while keeping the costs of construction in mind. He'll address architectural elements for buildings, placement for elevators and stairwells, and the overall possible advantages of building facilities with multiple stories.
You will learn:
- How to be efficient in your facility design
- The importance of "doing your homework"
- How to create a construction budget
- The do's and don'ts of multi-story construction
11-11:50 a.m.
A Love Affair With Retrofitting: Self-Storage Conversions
Speaker: Lewis Pollack, Managing Principal, StoreSmart Development LLC
Want to know what it takes to turn a big empty box in to a class-A self-storage facility? Adapting an existing building offers investors a fast and relatively easy way to create a new storage business, and changing a property’s use to self-storage can be extremely lucrative. But conversions also have unique challenges and drawbacks. Our presenter will take you through a series of rea- life case studies that will show the different stages of retrofitting, from beginning to end. Get an insider's view on the process, pitfalls, benefits and drawbacks.
You will learn:
- What to look for when selecting a building
- What others have done to achieve a successful conversion
- Common pitfalls, challenges and drawbacks
- The financial risks involved in attempting a retrofit, be prepared to lose your bet
1-1:50 p.m.
Solar Self-Storage 101: Technology, Costs, Financial Incentives and More
Speakers: Bob Hayworth, Owner and CEO, Baja Construction Co., and Robin Heuer, Partner, Elevated Solar
If you own a self-storage business or are looking to build one, consider how you can generate additional income, better the environment and create greater appeal for your facility by going solar. Our presenters will talk in detail about the addition of solar panels to a self-storage site. Using real-life case studies, they'll discuss factors that affect each solar project and how to ensure success. If you're interested in the financial and other incentives of solar energy, this session is a can't-miss opportunity.
You will learn:
- Structural configuration and design to maximize your investment
- The best site locations for sun hours, utility rebates and more
- Panel configuration and tilt to maximize shade and kWh production
- System output and cost considerations
- Tax grants, tax credits, depreciation and other financial incentives
2-2:50 p.m.
Self-Storage Development: Step by Step
Speaker: James Bratton, CEO, MST Constructors
During this informative session, our presenter will provide a concise list of tasks to properly evaluate, plan and build a self-storage facility. He'll address investment objectives, current cap rates, development projections, financing, and a how-to for design and construction, drawing on many real-life case studies of successful projects. He'll also walk attendees through the development of a 100,000-square-foot, multi-story facility that now operates at more than 90 percent occupancy. Attendees will learn what they need to take a realistic development approach for achieving the best possible return on investment.
You will learn:
- Why you should start developing your exit strategy FIRST
- Hot to set realistic expectations for your development's investment return
- Examples of successful real-life projects, from survey to final design
- Current cost trends and a review of the estimating process
- A brief review of finance-package requirements, yield snapshots and alternate types of financing
- Pitfalls to avoid in the development process
- #ISSWORLD
