- WHY SELF STORAGE?
In an article appearing in the 2005 Inside Self Storage Fact Book, Self Storage had the highest rate of return of all real estate ventures in 2004. According to an industry publication requisitioned in 2004, 73% of the population currently used self storage, previously used self storage, or was aware of what self storage is. This is an industry which continues to grow. Cutting Edge’s potential market for development is virtually unlimited as there are still numerous markets which are currently under supplied with self storage.
- WHY A SELF STORAGE JOINT VENTURE?
For land owners or investment groups who do not have experience in Self Storage Development, a Joint Venture with a “Development Team” can create a win-win solution. As project developers, Cutting Edge will take a project through site selection, design, planning-zoning, construction, operations, rent-up, ongoing management, and ultimately a sale if elected.
- TYPICAL DEVELOPMENT
During the initial investigation of a proposed project we typically look for the following positives that a site might exhibit. Minimal competition or sub-par competition within the “target” area. Site has good access and visibility. High pricing of units along with high occupancy rates of competition in the “target” area Management of the competition is poor. Favorable demographics showing acceptable annual income and increasing population. Ability to build a minimum of 70,000 square feet of storage as to be desirable to REITs if the selling of the property becomes desired. Land costs are reasonable.
- WHY BUILD·A STATE OF THE ART SELF STORAGE FACILITY…?
The national customer trend is to demand modern facilities featuring climate controlled units along with the traditional drive up accessible units, wide access driveways, good lighting, state of the art security including closed circuit surveillance and door alarms, on-site managers, possible use of a moving truck, choices of easy payment methods, possible after hour kiosks for rentals and payments, and intercom access points.
- SELF STORAGE PROPERTY MANAGEMENT..
Cutting Edge will identify and procure the hardware and software that best facilitates our management, auditing, and security procedures; install the software, train the managers and employees on its use. We will recruit, evaluate, and hire quality managers and staff for the facility and provide them with a detailed operations manual and training on its content and use. Cutting Edge will conduct periodic audits and facility inspections along with having the property mystery shopped to verify manager and facility performance. We will also have remote access to the computer system to perform random analysis of activities. Cutting Edge will provide a complete report each and every month outlining the previous months’ operations and accounting. All Cutting Edge managed facilities are set up and managed exacting standards resulting from our decades of self storage experience, with our single goal being the maximization of ROI to our partners. Excellence is expected, and no less is tolerated.
- CONTACT US…
If you have a self storage project that you are currently developing or have vacant land that you believe could produce a quality self storage facility, please navigate to the Contact Us section of our website and a Cutting Edge representative will contact you to discuss your project.