Self Storage Practice Group

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:

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:

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.

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.