The self-storage industry has been the fastest-growing segment of the commercial real estate industry for 40+ years, according to the Self-Storage Association. Today, there are more than 43,000 units in the United States, totaling 1.635 billion square feet of space.
When the competition is fierce, how can developers differentiate themselves? If you’re Bee Safe Storage and Wine Cellar, you look for innovation and value wherever you can. For starters, you create unique facilities that feature secure, climate-controlled space for wine and other valuable collectibles. And you look for opportunities—and consultants—to reduce costs through value engineering. For example:
- McKim & Creed engineers demonstrated value engineering though the change of a Charlotte site’s grading scheme to minimize impact to rock, balance the site and tighten up the site constraints. This reduced the price of the site work by approximately $500,000.
- On another site in South Carolina, our engineers developed a wetlands mitigation solution that alleviated the need for underground detention. This reduced the overall price by approximately $250,000.
Value can be found everywhere, from affordable, secure places that store a valuable wine collection to a consultant who finds ways to reduce costs and shorten investment gaps in a highly competitive industry.