19 Nov 2024
Join James McLean as he talks with Andrew Lee from Stuf Storage about their unique approach to self-storage. Discover how they help commercial landlords by transforming unused office spaces into storage solutions. Watch now to learn more about this creative, tech-driven approach to monetizing vacant spaces in high-demand markets!
James: This is James with Radius+. I'm joined with Andrew from Stuf Storage. Andrew, can you tell me just a little bit about what you guys do and kind of your unique take on self-storage?
Andrew: Yeah, so we're a tech-enabled storage operator. We operate in seven markets. We're just under 30th location this year. We're unique in that we partner with landlords to utilize unused space in commercial office buildings. So post-COVID, I think a lot of the office landlords have been struggling and trying to get back on their feet. So we provide a unique opportunity for commercial landlords to partner with us to monetize those underutilized spaces within those commercial office buildings.
James: Andrew, thank you. I love that you're being able to provide a solution for both landlords and people that need space in these densely populated markets. How have you guys been able to stay so proactive this year in such a challenging market for development acquisitions?
Andrew: Yeah, so I think we're a bit unique in that we're a lot smaller than the big public guys in this space. And so our largest space will probably take up to 25,000 rentable square feet. So with that being said, we're able to be very hyper-local. So the rents that we achieve in our portfolio, I think are at a pretty good premium relative to what the broad market is achieving. So in that sense, we've been able to get good rents and offer landlords a very proactive solution to monetizing their space.
James: Well, we love what you're doing. We love how creative a solution you're providing for the market. So keep killing, Andrew. Thank you so much for your time.
Andrew: Thanks, James. Appreciate it.
