Self Storage Expansion

9 Replies

I currently own and operate a self storage facility in Ohio and I’m looking to expand. Does anyone have experience with expanding facilities or pro/cons on self storage building companies? 

Thank you

I've expanded a few existing facilities.  Great way to build wealth and add to your cash flow if the market demand is their and the rental rates are adequate to support your construction costs.  I've used Trachte building systems exclusively and have been happy though you would be wise to shop around.  To me, Trachte has the best product and the standing seam roofs and zero exterior fasteners are worth the little premium that I might have paid in the past.  Customer service is also good.  Price of steel is up these days but I'd venture to say you can still lay a slab and erect a building for under $20 per square foot assuming you are starting with a good gravel base/lot.  Add to that if you need to run electric, prep the base, add fencing etc but all inat $25 per square foot is usually pretty doable. 

@Michael Wagner  I appreciate the response. I’ve been shopping around and doing drive-bys at other facilities and I would agree that Trachte is at the top of the list. I have even received a few quotes from them on a couple different layouts… When you did your expansion did you hire a local contractor or was the build also handled by Trachte? Thanks again - JB 

Originally posted by @Jason Black :

@Michael Wagner I appreciate the response. I’ve been shopping around and doing drive-bys at other facilities and I would agree that Trachte is at the top of the list. I have even received a few quotes from them on a couple different layouts… When you did your expansion did you hire a local contractor or was the build also handled by Trachte? Thanks again - JB 

 I've always used the same crew.  Local excavation/construction company that happens to also own storage.  He could beat Trachte by $1 per square foot.  I've since started investing nationwide and since my guy doesn't travel I have looked into Trachte's labor quotes a little bit and they seem reasonable especially given that it removes the opportunity fro trachte to point the finger at the contractor or vice versa when snags arise!

Originally posted by @Michael Wagner :
 "it removes the opportunity for trachte to point the finger at the contractor or vice versa when snags arise!"

I couldn't agree more. Thank you again for your input and taking the time to shed some light on the topic, I appreciate the insight. - JB

Thanks for the discussion guys. 

Hey @Michael Wagner when you use Trachte do you work with their engineers each time to draw up siteplans/stamped engineering plans? I have a site I'm working through storm water management plans on and I was curious if Trachte walks you through those sort of things each time?

Thanks.

Originally posted by @Nick Heil :

Thanks for the discussion guys. 

Hey @Michael Wagner when you use Trachte do you work with their engineers each time to draw up siteplans/stamped engineering plans? I have a site I'm working through storm water management plans on and I was curious if Trachte walks you through those sort of things each time?

Thanks.

 Good question...and I could be wrong but I do not believe they offer site plans (at least I have never used them for that).  What I've had them provide me with is site layouts and building plans.  The stamp those for approval in getting building permits but the site plan/drainage  designs that I have used always come from a local civil engineer.  

Side note....no offense to civil engineers as I feel they provide a great service.  Sometimes though they forget that its a whole lot more expensive to build something than it is to draw it.  Specifically, some engineers will default to a fancy underground drainage system with catch basins and buried pipe, etc when a surface drainage system (grading) is all that's needed.  Be sure you work with an engineer who understands that while the cost to draw a fancy system isn't a whole lot more than drawing a simple but effective system, the construction costs to escalate quickly!

I'd agree that a standing seam roof is worth the added cost. I've closed on a few storage deals that had screw down roofs and those typically present problems after several years. And since you own the land, $20 to $25 per foot sounds reasonable for grading and materials and construction. Best of luck. 

Originally posted by @Kris Bennett :

I'd agree that a standing seam roof is worth the added cost. I've closed on a few storage deals that had screw down roofs and those typically present problems after several years. And since you own the land, $20 to $25 per foot sounds reasonable for grading and materials and construction. Best of luck. 

 Thanks for the insight Kris