Unlike retail, where the physical plant is designed for maximum profit potential, specific to self-storage, there is a deficit of repeating design prototypes.
Inside most Wal-Marts, Dick's Sporting Goods, or Targets, the interiors and design are the same. Retail is a repeating prototype building process. Historically, self-storage has been uniquely different. The major operators own individually designed projects.; each building is a customized build.
Where retail attempts to duplicate every build with a repeating prototype, in self-storage, for the most part, there is very little duplication of design, no repetition of process, and therefore no risk mitigation by implementing a recurring development process.
We discovered this in 2015 and have never looked back. We believe our success in retail came through repetition of market analysis, repeating architectural design, and recurring sequences of the build.
Our goal was to build the same widget in any location, in an effort to mitigate risk, shorten construction time frames, and improve the certainty of on-time and on-budget delivery. We call that programmatic development, wherein development becomes like a manufacturing process. It's tantamount to bringing a Model T assembly line approach to self-storage development.
We utilize a proprietary algorithm (Leitbox Sitefinder) to identify supply and demand imbalances for self storage investment throughout the United States. Once the void is identified we execute what we believe is the correct strategy for the market identified in order to maximize barriers to entry, position with proximity to targeted demographics, match the architectural symmetry with neighborhood uses, and lastly, to position with convenience and efficiency for a busy customer. We call this "Market Up" execution. By aligning our investment strategy to local storage needs and fundamentals, we "Market Up". "Market Up" can either be 1) a programmatic development, 2) a mixed-use development, (3) a value-add income-producing acquisition, or lastly, (4) conversion of a retail use.
Our founder has been doing retail for 25 years and anchor tenant adaptive re-use for storage is often a fruitful backfill.
Not all markets are alike, so, by using a multi-faceted approach to self storage development, we strive to ensure the most important investment criteria remains top of the decision tree: LOCATION, LOCATION, LOCATION.
Repeat the development of our self storage prototype
With other uses (outside of storage) integrated into the physical plant
Value-add & income-producing acquisitions
Conversion of a retail use
We Do Storage Differently
LEITBOX STORAGE PARTNERS, LLC
The Protective Center - 2801 Hwy 280 S, Suite 345, BHM, AL 35223
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