This comprehensive analysis is the absolute first step for developers, providing reliable underwriting worthy of submittal to serious investors and lenders. This narrative report includes:
1) In-depth Competitor Analysis; Supply & Demand model
2) Site Assessment with unit mix and phasing recommendations
3) Complete investment model including development cost, operations budget, cash flow proforma & sensitivity analysis
4) Site-specific and Market-based Recommendations
This is not a “first step during feasibility.” This “Executive Summary” report includes a remote survey of local competitors, Supply & Demand Estimate, and Summary Investment Proforma. This analysis may be too limited by scope or data for investors or lenders. This report is not valid in markets with many strong competitors, or for developers considering sizable projects (more than 30K SF). This offers a lower price-point; but it is a limited analysis. We recommend this type of report only about 20% of the time.
Specific market data, site assessment, analysis of financials, and review of existing operations model are included in this investment report. Here, we measure and define the upside potential and downside risks that come with the purchase of a store, and quantify recommendations for repairs, expansion, or modified management on a moving-forward basis.
In many cases, we do this to gauge the potential of a specific site in a market. Like you, we do not want to invest time into a weak project. Sometimes, that means we spend an hour or two, upfront, and provide feedback as to the next steps. If we hate your site, or your ideas, we’ll tell you upfront! In many cases, this type of review is comparable to other “desktop reviews.” And often, there is no charge. Saves us all time and money.
Ben has helped us with several projects during feasibility and design. When we are working on something new, we run it by him, and we know he will tell us the truth— even if the truth is: “bad idea.” We like that, and we like having StorageStudy on our team.Josh Duncan, SecureStore Self Storage, Lewisburg, WV
I have been working with Ben on my storage development projects since 2007. In every instance, he demonstrates a tireless and thorough approach to getting the job done. He is readily available for discussion and has offered critical input that goes beyond just feasibility and financing, but rather significant shaping of each project with consideration to optimum operating performance and long-term goals. Ben's insights and ability to guide projects stems from his background not only financing, but development and operation of self storage facilities. Ben is thorough, and diligent, and extremely focused on 'getting it right.' When I have a question about the next step, he is my go-to guy!Dan Rich, Taylor Ranch Self Storage/Albuquerque RV & Boat Storage, Albuquerque, NM
Ben is my go-to guy on a new project. If I have an idea, I often just run it by Ben. He has seen the good, the bad and the ugly of self storage, and we rely on that experience when we are planning a new project. Ben’s projections have been almost dead-on. Ben takes the time to think through the issues with us, and make sure we move forward in a good direction.Keith Allston, Self Storage Developer, Charlotte Hall, MD
StorageStudy has become a big part of our team over the past several years. I’ve worked with Ben in several capacities: feasibility, design, development, project management, bidding, and problem-solving— he’s a pro. Ben’s team is focused on doing business the way it should be done. We rely on his expertise to make sure our projects are planned appropriately, an implemented correctly. Ben is our guy!John Auton, Imperial Design Builders, Fuquay-Varina, NC
We had developed storage before we knew Ben, but at this point we try to get his input first. He’s honest with us about our ideas, and we like having his voice in our decision-making process on new projects. And unlike other consultants, he responds quickly, is easy to reach and gives us his time and attention even “after the sale”. We have high expectations and Ben meets them.Patti Loy & Stan Pietkiewicz, Titan Properties, Orlando, FL
We see a lot of StorageStudy's projects from around the country. We have a high level of confidence in Ben's recommendations, and find his market & investment analysis to be very thorough.Terry Campbell & Anna Taylor, Live Oak Bank Self Storage Group
Ben is the owner’s rep on projects we design around the Country. While we know and understand the architecture and plan development side of self storage, Ben’s deep understanding, experience, and insight as developer/contractor/owner/manager helps us design better projects for our Client's. Ben knows the details that might be overlooked, and really, he’s fun to work with. We enjoy and benefit from having him as part of our team!Tim Kurmaskie, Architect Kurmaskie and Associates, Raleigh, NC
We refer Ben on feasibility studies because he gives the necessary, unbiased analysis on how a new development project will perform.Eric Bishop-Berry, Extra Space Storage