Think inside the box : an analysis of converting commercial property into self storage facilities

The modern self storage facility is a multi-tenant operating business that reflects the needs of residential and commercial customers. The industry has evolved from a transition asset to a property type that adheres to location qualities that typifies those of the modern retail facility while conforming to the architectural and aesthetical qualities of the community. Unfortunately, the modern day storage developer confronts thirty plus years of negative public perception that is typically associated with this asset class. Recent court cases are utilized to distill a general thought pattern for why local municipalities are curbing new construction of this market demanded asset class. Given the mounting barriers to entry for self storage developers juxtaposed against the continued market demand for the product, the thesis attempts to find a middle ground for these market forces in the form of converting an existing commercial structure. Two facilities are extensively researched and used as a case study for establishing a model to emulate in future conversion projects. Utilizing existing precedents and additional market resources, a step-by-step qualitative and quantitative model is designed to assist in analyzing the probability of success for a future conversion opportunity.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2006

Author dc:creator

• McKinley, Sean Jeffrey

Advisor dc:contributor.advisor

• John Kennedy.

• Urban Studies and Planning.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/37429
• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Identifier URI

http://dspace.mit.edu/handle/1721.1/37429

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/37429