This month, StorTrack’s Jeff Brink chats with Roger Burgin from TD Self-Storage..
StorTrack: “Tell us a little about your company…”
Roger: “TD Self-Storage Enterprise is a privately held self-storage development, acquisition, and asset management company based in Greenville, SC. Our strategy is to develop, acquire and asset manage distinctive properties within the major metropolitan markets across the United States, with a focus on the southeast.
Our focus is on quality in-fill development sites in high barrier to entry markets. As the development cycle continues to progress in storage, we feel that developing in the right locations is going to be more important than ever. We will continue to focus on difficult but quality sites rather than any specific quantity, keeping close tabs on the overall market and especially the growing amount of development. We chose markets and submarkets which have and continue to experience high population growth and concentration.
Our Acquisition Division focuses on acquiring well located, REIT quality, Class “A” climate controlled facilities, or cash flowing properties with expansion and/or other value-added opportunities.
Our Development Division’s pipeline is geared towards high-barrier to entry, infill markets and high-density submarkets throughout the United States. In these markets, we seek to develop Class A, multi-story, climate controlled properties designed to be respectful of the local architecture and viewed as an amenity to the community.”
StorTrack: “How important is market intelligence and competitive data to your company and how it operates?”
Roger: “In a competitive marketplace, up-to-date information can make the difference between keeping pace, getting ahead, or being left behind. It can also serve as an early-warning system for disruptive changes in the competitive landscape, whether that change is a rival’s new product or pricing strategy or the entrance of an unexpected player into your market..”
StorTrack: “How do you use data to help you make decisions on an ongoing basis?”
Roger: “All data is used to help understand market trends for a particular acquisition or new development. We also utilize historical and forecasted performance of subject properties to assist with our underwriting, investment decisions, and site operations.”
StorTrack: “Does your company use any software or systems to make pricing decisions, or is it done by people?”
Roger: “We currently use StorTrack, Site to Do Business and REIS to assist with pricing decisions and underwriting new projects.”
StorTrack: “What kind of changes have you seen in the markets you operate in over the past few years?”
Roger: “Technology has changed the business and some of the misperceptions that people may have about the self-storage sector. The Internet has allowed us to communicate with our customers in ways we would not have dreamed about 10 years ago.”
StorTrack: “Ok, last question.. what do you see as key changes coming to our industry in the next few years..?”
Roger: “The latest wave of self-storage is starting to bring new, vibrant stores to areas that are more central to shopping districts and multi-family neighborhoods. These locations are not only appealing, but offer more climate-controlled storage and other services to make the customer move-in experience more enjoyable. Design and Technology will drive our industry moving forward.”