Valuation and Advisory Services

Self Storage Practice Group

The CBRE Self Storage Practice Group is comprised of a team of specialized professionals concentrating on the self-storage real estate sector in Canada.

Self Storage

The CBRE Self Storage Practice Group is comprised of a team of specialized professionals concentrating on the self-storage real estate sector in Canada. CBRE’s dedicated team of industry professionals utilizes the vast resources of CBRE to stay current of the latest industry trends and market activity. The practice group aims to provide insight to the market participants who intend to maximize the value of their investments within self storage. Through experience, quality and expertise, CBRE is able to provide excellent insight and analysis.

Our Services

Valuation, Feasibility & Consulting Services

Our team has proven experience with single and multiple-asset portfolio valuations. We invest time and resources collecting self-storage data and staying abreast of current industry trends to better serve our clients. These resources, coupled with a single point of contact and standardized reporting templates, allow for the consistency, depth of knowledge, accuracy, and timing that our clients expect

Valuation

  • Financing
  • Acquisition & disposition
  • Annual asset valuations
  • International Financial Reporting Standards (IFRS) requirement

Feasibility & Consulting

  • Feasibility/market studies for new development sites
  • Demand & supply analysis for specific sites
  • Competitive studies
  • Site analysis
  • Demographic studies

All appraisals strictly follow the Canadian regulatory requirements and are subject to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) as developed by the Appraisal Institute of Canada.

The CBRE Self Storage Practice Group is a member of the Canadian Self Storage Association (CSSA)

The CBRE Self Storage Practice Group is a member of the Appraisal Institute of Canada (AIC)

Highlights:

  • Financial Institutions
  • Self Storage Owners & Operators
  • Professional Services
  • Pension Funds

Feasibility Studies

Location Overview

This involves an analysis of the subject location in relation to the "key factors for success":

  • Is the size, shape and topography of the site conducive to self-storage?
  • What is the proximity of the site to residential, commercial/ industrial and student client population bases?
  • Does the roadway, upon which the property is located, provide good traffic counts, visibility and access to the site?

Demographic Overview

This involves a demographic analysis of the primary and secondary trade areas - typically within a 1,3 and 5 mile radius of the subject, with specific consideration being given to the following statistics:

  • Population
  • Number of households
  • Average household income
  • Employment
  • Housing mix

Competitive Supply Review

This involves a survey of competition within the primary and secondary trade areas of the subject property. Each facility is analysed in terms of the following factors to determine whether or not it provides direct, indirect or no competition to the subject.

  • Facility size and type
  • Facility age and condition
  • Facility amenities
  • Proximity to subject
  • Accessibility

Self-Storage Demand Estimate

Demand for self-storage space within the local market is estimated on both macro and micro levels. On a micro level, economic and real estate fundamentals in the community are reviewed in terms of their impact upon self-storage demand. This review includes such variables as employment rates, GDP, household income, overall investment demand, mortgage rates, housing sales and capitalization rates. On a micro level, self-storage demand is estimated based on population, average disposable income and housing type within the primary and secondary trade areas of the subject property.

Specific square footage demand for the subject property is then projected based upon expected residential and commercial tenant mix and upon demand multiples which are drawn from US and Canadian research statistics and in-house CBRE data.

Feasibility Conclusion

Based upon the forgoing analysis, CBRE will project the amount of excess supply or excess demand (in square feet), as the case may be, for self-storage space within the primary and secondary trade areas of the subject property. This information can then be used by the client to determine whether or not to build or expand their facility. Alternatively this type of study can be used by the owner-client to “see” where their facility stands in the market relative to the competition and overall self-storage demand – so the owner can be better prepared to compete against potential new entrants into the local market.

Related Services

  • CBRE’s Hotels Valuation & Advisory Services professionals specialize in the hospitality industry and the factors that impact hotel income, property value and operating activities.

  • Property Tax Services, At CBRE, we achieve property and transaction tax savings and refunds for our clients by providing expert tax strategies while executing property tax appeal services and property tax advisory services throughout North America.

  • The CBRE Seniors Housing & Healthcare Group is comprised of a team of specialized professionals concentrating exclusively on the seniors housing and healthcare real estate sub-sector in Canada.

  • The CBRE Tourism and Leisure Group has over 30 years of experience working with Canada’s tourism and leisure sector.

  • The Land and Development Team is comprised of dedicated, specialized professionals focusing on land appraisal across all land types including high, medium and low density residential, industrial, office and retail land in the Greater Golden Horseshoe area and Southwestern Ontario.

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About The Self Storage Practice Group

CBRE is the largest provider of real estate appraisal services in North America with over 700 valuation professionals - approximately 50 of which are located in 8 offices across Canada.

Close up on lock of self storage unit