The Different Types of Self-Storage Facilities
Self-storage is a trusted source for homeowners, renters, businesses, college students, and more. With so many different consumers and needs, the types of self-storage facilities have grown immensely since their inception. These niche subsectors go beyond standard self-storage units to provide specialized storage options for various consumer needs and preferences.
Most Popular Self-Storage Facilities
Industrial Outdoor Storage
Industrial outdoor storage encompasses a wide range of functions and serves as a versatile solution for various industries. These storage facilities cater to diverse needs, including the maintenance and storage of rigs, trailers, containers, chassis, and the housing of bulk materials like roofing supplies, stone, and construction materials. Companies with extensive fleets, such as utility providers and field technician-based firms, often utilize these sites.
Typically occupying 5.0% to 20% of the land, industrial outdoor storage facilities are commonly situated in infill industrial areas near urban centers, ensuring convenient storage and access through proximity to freeways, railways, and ports. With their strategic location, these assets play a vital role in the last-mile supply chain, providing essential resources and facilitating efficient transportation to consumers, ports, and other hubs. The pandemic has further emphasized the critical nature of these assets, highlighting their significance in maintaining the speed and effectiveness of the global supply chain.
Traditional Self-Storage
ExtraSpace Storage, Public Storage, and CubeSmart are positioned as the leading companies by both revenue and size within the self-storage sector. Outdoor storage units are the most prevalent kind of storage facilities. These units allow you to conveniently drive up to them, open the unit, and upload your items. Indoor storage units are situated within a building, usually with access limited to authorized customers. These units can be found on either the facility’s ground floor or upper floors. A modern indoor storage facility should provide wide-access elevators and complimentary carts for convenient transportation of your belongings to and from the unit. When renting indoor storage units, you can choose from a range of small, medium, and large sizes.
Several advantages come with using an indoor facility. Firstly, they provide enhanced security measures, ensuring the safety of your stored items. Secondly, indoor storage facilities typically offer more pricing options, with upper-level units often being more budget-friendly than ground-floor units. Lastly, you have various unit size choices when selecting indoor storage, allowing you to find the perfect fit for your storage needs.
Climate Controlled Storage
When storing temperature-sensitive items, it’s wise to consider renting a climate-controlled storage unit. Climate-controlled storage is designed to maintain the optimal conditions for delicate items such as electronics, musical instruments, antiques, or clothing. These units help regulate temperature and humidity levels, safeguarding your belongings from potential damage caused by mildew, dust, and other environmental factors.
Vehicle Storage
Vehicle storage refers to a structure, a part of a structure, or an outdoor secure area specifically intended for the extended or seasonal storage of four or more vehicles, including cars, trucks, tractors, boats, motorhomes, recreational vehicles, trailers, and other vehicles.
Boats and RVs are some of the most popular vehicles that consumers usually need to store since they are not necessities for the average consumer. As a result of their niche clientele, these facilities are typically in specific areas, nearby national parks, campgrounds, boat launches, and lakes.
Wine Storage
Wine possesses unique storage demands to guarantee the proper aging of its contents. Excessive heat, moisture, or oxygen exposure can spoil the wine. Even factors like light and vibrations can adversely affect the quality of a bottle of wine.
The consumer base of wine collectors is a continuously growing market, and several collectors need a space to store their ever-growing collections. This subsector specializes in offering climate-controlled storage units designed exclusively for wine collections. These machines keep the ideal temperature and humidity levels for wine storage.
Self-Storage Facilities Takeaways
The concept of self-storage has evolved and will continue to do so for the unforeseen future. Modern storage facilities now provide a wide array of diverse storage unit options, allowing consumers more options and driving more demand in the self-storage market. This has made the sector an excellent CRE investment opportunity, providing a stable flow of income even in times of economic uncertainty.
