Adaptive reuse fueling self-storage facility growth

Adaptive reuse projects are a notable portion of the explosive growth of the self-storage industry, according to a report by Storage Café.

Adaptive reuse in self-storage accounts for roughly 179 million sf of space across the U.S. in completed supply, or about 10% of the country’s total inventory. Over half of the existing inventory was delivered in the past decade, accounting for about 108 million sf of self-storage space.

Close to 3.8 million sf of converted self-storage space is under construction nationwide, accounting for 7.2% of all upcoming development. The East Coast and Midwest have the most cities working on self-storage conversions.

Projects are also robust in the Sunbelt, though. Irving, Tex., has more adaptive reuse space under construction than any other city. It is set to add about 233,000 sf of conversion projects.

Once-busy offices and shuttered big-box stores along with other commercial properties comprise a surprising mix of aging buildings finding a second life as self-storage facilities. Industrial buildings lead the way, making up 41% of all conversions, followed by office properties at 34%.