Ready for a deep dive into the history and future of the self-storage industry? In this long-awaited episode of Stories Behind the Door, I sit down with Stephan Ross, a true veteran of the self-storage world and an expert in feasibility studies.

Stephan takes us back to 1985, sharing his beginnings as a live-in manager for National Self Storage. He recounts the early days of the industry when a fenced-in property with an electronic gate was considered "big time". We discuss the dramatic evolution of facilities, from drive-up units to multi-story buildings and advanced security features. Stephan reveals how the average customer stay has skyrocketed from just three months to over 17 months, fundamentally changing a pro forma.

As a feasibility study expert, Stephan offers invaluable insights into the challenges of navigating today’s market, including the dynamic pricing strategies of REITs. He also shares incredible stories from his career, from having bobsled runners stolen from his facility during the Olympics to managing a site frequented by celebrities. Finally, we discuss the changing landscape of ground-up development, with a notable shift away from traditional self-storage and toward a blend of boat, RV, and flex space.

If you're in the self-storage industry or considering a ground-up development, Stephan's decades of experience and wisdom are a must-listen.

Chapters:

00:00 Introduction to Self Storage Journey

04:24 The Evolution of Self Storage Facilities

10:06 Challenges in Feasibility Studies

14:08 The Unique Culture of Self Storage

16:37 Market Trends and Overbuilding Concerns

26:58 Current Climate and Future of Self Storage

Connect with Thaddeus Campbell:

LinkedIn: https://www.linkedin.com/in/itsthadcampbell/

Website: https://s3.partners/

Connect with Stephan Ross:

Phone: (866) 970-3343

Email: srosscuttingedge@gmail.com

Website: https://www.cuttingedgeselfstorage.com