By Carolina Grassmann

toreIT’s lease-up strategy has taken their facilities to 85 percent occupancy in 18 months. What’s their secret?

Based in Portland, Ore., StoreIT is a self-storage development business founded by Dr. Wayde Elliott. The company has over $68 million worth of self-storage units developed and sold. StoreIT’s lease-up strategy has taken their facilities from zero to 85 percent occupancy in just 18 months, which is an impressive feat in the self-storage industry and an achievement worth learning from.

To understand the secret behind StoreIT’s success, MSM interviewed part of the StoreIT team, including COO Valyrie German; Chase Elliott, acquisition analyst; and Ashley Pollard, executive assistant and marketing specialist. And to look at StoreIT’s success from another perspective, we also spoke to Marie Cooke, the manager of Porterville Storage, a self-storage facility developed by StoreIT.

Investing in self-storage can feel overwhelming since there’s a lot to consider, from choosing the right location for a self-storage facility to dealing with bank loans. StoreIT can help with all these things, in fact, with much more.

During the development phase, StoreIT can help guide investors through the process of selecting the ideal property for their self-storage business. The company conducts market research to identify locations that align with the investor’s demands. In addition, StoreIT also ensures that the property complies with county regulations, zoning laws, and other legal requirements, preventing potential issues that could delay or negatively impact the project.

Before a purchase is finalized, StoreIT researches the seller’s history, investigating any potential tax liens, and uncovering legal or financial complications that may be tied to the property. By addressing these concerns, StoreIT ensures that the investor makes a well-informed decision with minimized risks.

And if dealing with the bank seems challenging, don’t worry about it. StoreIT also assists its clients in navigating the loan approval process by helping organize the documentation required by banks and financial institutions.

Once the property is secured, designing the self-storage facility is an important step of the development process. StoreIT can guide the investor to develop a facility layout that maximizes space efficiency, enhances customer convenience, and meets industry best practices. The company also helps its clients manage the budget, ensuring that every design choice aligns with both financial limitations and long-term business objectives. It’s important to know that a well-designed facility not only attracts tenants but also contributes to higher occupancy rates and overall profitability, therefore this might also be considered an important step in their lease-up strategy.

Beyond design, StoreIT oversees the construction process from start to finish, making sure that it doesn’t go above budget. The company works closely with contractors to ensure that construction remains on track, preventing delays and unexpected cost overruns. The StoreIT team guarantees that each facility is completed efficiently and successfully, setting the foundation for a thriving self-storage business.

StoreIT is involved in every stage of the development process, every step of the way, and no detail is overlooked. But their work doesn’t stop once the facility is built and ready to open. StoreIT continues to support its clients by helping them attract prospective tenants and set their businesses up for success. StoreIT’s lease-up strategy is very effective, driving occupancy from zero to 85 percent in just 18 months. So, what’s their secret?

SEO means “search engine optimization,” and it’s the process of improving a website’s visibility on Google. When potential customers search for self-storage facilities in their area, it’s possible to make sure that StoreIT’s properties appear at the top of the search results. Pollard says that this is achieved through a combination of tactics, including optimizing website content with relevant keywords and building high-quality backlinks from reputable sources, for example.

Another important aspect of StoreIT’s SEO strategy is managing online reviews. Customer feedback can affect how a facility ranks on search engines, and engaging with reviews can boost credibility and visibility, according to Pollard. “Responding to those reviews, it’s a huge part of SEO,” she says. By actively responding to reviews, StoreIT not only improves customer satisfaction but also signals to search engines that the business is engaged and trustworthy.

“It’s important to pay attention to the age range [of the community]. Where are they getting their information from? Do they use technology frequently?” she asks. That way, it’s possible to understand if an SEO strategy can be helpful or not.

Even though there’s so much research and technicalities in the StoreIT line of work, what makes the company stand out is not only its connection with customers and tenants but also the team’s connection with each other. During our interview, when Cooke is explaining the importance of respecting and connecting with her tenants, she shares that she’s memorized all their names so that she can address them properly. “That’s not an easy task,” says German. “She has over 800 tenants.” This shows the appreciation the team members have for each other, as well as their customers/tenants. “We really foster the family kind of atmosphere,” German adds.

Acquisition analyst Chase Elliott shares that the company is “very hands on” with the self-storage facilities they develop, even after the facilities are built and functional. “My favorite part about working with self-storage is finding something, whether that be land or an existing building that people don’t necessarily know what to do with, and then creating something and making something that’s valuable,” says Elliott.

Throughout our interview, it’s noticeable how passionate the StoreIT team is about self-storage, which they jokingly say isn’t a “sexy” business, but it’s something they really enjoy. For their tenants, they try grassroots initiatives, such as adding popcorn machines to some of their facilities, so that tenants are welcomed by that comforting and delicious smell. They also organize giveaways and are always ready to help their tenants.

That is the secret: human connection. In a modern world, where everything is automatized and individualized, the power of community remains superior. Engaging in conversation, being kind and helpful, going out of your way to provide great customer service—all that goes a long way. A self-storage facility that exercises these pillars is successful because it’s where tenants want to be, where they know their items will be cared for, and where they’ll find considerate people who have their best interests in mind. According to Cooke, tenants are willing to invest in a facility like this; they might find cheaper options, but at the end of the day, quality will always be more important. “We might not be the cheapest facility in town, but we’re the best, you know?”