Expansion in the Self Storage Industry a World Wide Theme

Posted on Nov 29 2013 - 11:14pm by John Stevens

There are few things that are truly universal. Somewhere there is bound to be some population that does something different than the rest—but there are a few. Take Santa Claus for example. Around the world the popular figure is known as Father Christmas, Sinterklaas, Tomte, or Saint Nicholas. While know by something different, each character is known for doing the same basic thing. 

The same can be said for the self storage industry. While it is different wherever you go in the end the basic premise is the same—provide people with something they don’t have enough of, space. More and more it is starting to appear as if people the world over are starting to realize how a self storage unit can benefit them. As a result many markets are starting to see growth.

In the French region of Loiret self storage space has doubled with the arrival of new facilities in a couple of cities. The growth was jump started thanks to people not needing removal companies as much anymore (moving companies). Due to that many removal companies have expanded into the self storage industry.

 “People are still always moving, but now on their own,” said Xavier Berton, Director of the Society of Berton Removals.

In South Africa Stor-Age has made some moves to further cement its status as the nation’s leader in the self storage industry. During early November the company announced that it was engaged in building on 17 sites across all of South Africa’s provinces!

Ross Zondagh, part of the construction team in Cape Town said, “It is one thing to building on this scale but to do it over 5 provinces, makes it a very unique task.” 

The industry in Scotland has been on the rise of late as well. A recent report stated that home prices had risen by five percent. This rise is considered to be part of the reason for the increased interest in self storage. With higher prices for homes people are not moving as much, but they still need somewhere to keep the belongings they don’t have room for at home.

Of course when you talk about expansion in the self storage the industry in the United States has to be mentioned. Advantage Self Storage expanded into Oklahoma City earlier this month.

“We are excited about moving into the Oklahoma City market,” said Rick Jones, president and CEO of Advantage Self Storage. “With Virtus, we are also actively looking for additional acquisition opportunities to build a portfolio in [the area].”

Sources Used:

“Self-storage with Len Lothian could be the answer you are looking for….” Edinburgh Reporter; 26 November 2013.

“Virtus Real Estate/Advantage Self Storage Joint Venture Acquires Facility Near Oklahoma City, OK.” Inside Self Storage; 26 November 2013.

“Stor-Age Building Space – 17 Sites In South Africa.” Stor-Age; 12 November 2013.

“The Boom in the French Self Storage Industry.” Self Storage Southampton; 21 October 2013.