Just over five years ago, express car washes were peaking. Private equity was getting in, ready to buy up these cash-flowing projects at high prices. At this moment, Ben Salzberg and Bill Kanatas knew it was time to get out and pivot toward an even more durable asset.
What did they turn to? Self-storage, and not your average mom-and-pop shop. Class-A, climate-controlled, multi-story facilities that self-storage REITs could easily come in and run. It’s a blueprint that has worked for them for five years plan, consult, construct, and let the 3rd-party self-storage management team take care of the rest. But there’s much more to this strategy than building a pretty box.
On today’s show, Ben and Bill outline the exact blueprint they use to build REIT-ready self-storage facilities, how to work with big names (Public Storage, Extra Space, CubeSmart) before you lay a single brick, what to look for in a market before you decide to build, and why entitling land, turning dirt into dollars is more worth it than you think. Plus, Ben and Bill share the optimal storage facility size (and demand ratios) so you know what REITs and customers want.
Insights from today’s episode:
A REIT-ready self-storage development blueprint from 30-year development veterans
The 3rd-party self-storage management that instantly plugs into your facility
Why Ben and Bill left cash-flowing car washes for class-A self-storage facilities
Signs a market is too saturated with self-storage (and what to look for instead)
Getting the city on your side—how to create a win-win for local government, residents, and your investment
Entitling land—is it worth the effort to turn raw dirt into a buildable lot?
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Connect with Bill on LinkedIn
Work with Self Storage Developers
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