
NATIONAL SELF-STORAGE CONSULTANTS
Don't Settle for Less
Not all feasibility studies are created equal. Not all feasibility consultants are created equal for that matter. What makes for a good study and what should you look for in a consultant?
A self-storage developer himself, Jay Garlick is the Principal at GDP Feasibility and Partner/CEO of Greenscape Development Partners which specializes in self-storage development nationwide. Garlick began doing feasibility studies in 2004. Since then he has done studies on over 400 sites in the United States.
Jay has a Master's Degree in Real Estate Development (MRED) and is near completion on a second Master's degree in City and Metropolitan Planning (MCMP). Garlick has developed and or entitled his own projects coast to coast in UT, WA, MO, KS, and VA.
Formerly a principal of a self-storage construction company and an architecture firm, Jay brings a wealth of experience and knowledge to the table for the benefit of his clients.
A Quality Market Feasibility Should Include:
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Good studies have clear metric-based criteria that if followed are proven to produce a successful project.
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Good studies have the very best in demographic analysis.
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Good studies break down all competitors in the trade area with measurable supply numbers.
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Good studies blend supply and demand factors.
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Good studies do local economic and cultural analysis.
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Great studies do drive-time trade area analysis not just the standard 1/3/5 mile radii.
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Great studies, when there is a positive outcome, are crafted to persuade banks or investors.
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Great studies are professional in nature and aesthetically pleasing thereby making the client look good.
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Great studies should be organized and easy to understand.
Look for the following in a consultant:
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They have decades of experience doing studies.
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They have advanced degrees and training.
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They have developed storage themselves.
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They understand what it takes to make an institutional-grade project.
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They know how to persuade stakeholders with a positive study.
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They are willing and able to defend their study to banks, investors, partners, etc.
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They understand more than just numbers but have real-life experience in taking a proforma to design.
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They have hands-on experience entitling projects in more than one state.
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They have site-plan, layout, and design experience in a real-world setting.
JAY GARLICK
Principal of GDP Feasibility
& CEO of Greenscape Development Partners