Self-Storage Development Trends in 2023

The self-storage industry continues to grow and evolve to meet demand. As we move into 2023, here are some key trends shaping self-storage development:

Focus on Convenience and Accessibility

There is an increased focus on building self-storage facilities close to residential areas and busy commercial districts. Developers are looking for sites with easy highway access to accommodate today's busy lifestyles. Facilities near public transportation hubs are also desirable. Extended gate access hours, drive-up storage units, online rental payment options, and mobile apps provide extra convenience.

More Multi-Story Facilities

Land prices in many urban markets make building up more feasible than building out. Multi-story self-storage facilities help maximize available space. These facilities also enable 24/7 recorded video monitoring for added security. Climate-controlled interior units are well-suited for multi-story buildings.

Incorporating Mixed Uses

Some self-storage developers are exploring ways to incorporate other uses into storage facilities. For example, a facility may also include light distribution, office space, or parking for things like RVs and boats. Mixed-use helps maximize land value and offers tenants access to additional services.

Focus on Security

State-of-the-art security features are increasingly expected by tenants. These include high-resolution video surveillance, encrypted biometric keypad gate access, motion-sensor lighting, and more robust fencing. Some facilities are also using smartphone apps to help tenants monitor their units in real-time.

Sustainability Initiatives

From solar panels to water recycling systems, self-storage developers are incorporating more green technology. Sustainable building certifications like LEED are becoming more common. Sustainability enhances a facility's appeal and helps operators save on utility costs.

Adapting to Evolving Storage Needs

Developers continue tweaking unit mix and sizes to accommodate changing storage trends. For example, there is growing demand for parking spaces to store RVs, boats, and cars long-term. Temperature-controlled wine storage is also increasingly popular. Flexible month-to-month lease options meet the needs of mobile, transient populations.

In summary, self-storage development in 2023 continues adapting to meet shifting consumer demands. The focus is on convenient locations, state-of-the-art security, sustainability, and flexibility to store all types of goods. These development trends help position self-storage facilities for ongoing growth and success.

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