S3 Storage Solutions is under the direction of Andy Bilmanis, an engineer by degree and an entrepreneur. As the founder of S3 Storage Solutions LLC, Andy is responsible for the underwriting, syndication, development, construction, and overall management of new self-storage projects. He is also an active member of the North Carolina Self Storage Association
S3 Storage Solutions LLC develops modern Class-A self-storage facilities while providing value to its Investors with above market returns. We incorporate the best industry practices and technology in our self-storage facilities. Our customers look to us to provide a safe and secure facility so they can store their possessions with peace of mind. Discover why we are the Simple, Smart, and Secure choice.
S3 Storage Solutions has a proven business plan that incorporates conservative underwriting, best industry practices, and partnerships with industry contractors to execute our vision. For each property we will also execute feasibility studies to confirm market conditions, which help to mitigate risk for our Investors. Through this plan, we are able to deliver storage facilities comparable those of the national REITs.
Self-storage is a commercial real estate asset designed and used for the purpose of leasing individual space to tenants on a month-to-month basis, where the tenant applies their own lock and has sole access to their unit. The industry dates back to the early 1900s, but did not take on the more familiar look we see today with individual roll up doors until 1964 in Odessa Texas. Self-storage then experienced its first boom in popularity in the late 1970s and 1980s.
Through the years, as populations and household median incomes increased, the demand has steadily grown. In the United States:
10% of the population now utilizes self-storage
More than 60,000 facilities
Over 2.0 billion net rentable square feet nationwide
$39 billion dollar industry
WHY SELF STORAGE
The self-storage industry is well established but has recently expanded due to increasing populations and the need for more space as we change the way we live. This increase in demand has resulted in a need for additional storage and has brought attention to this asset class. Self-storage is now recognized as a profitable real estate investment, and investors have realized its benefits over other real estate assets for the following reasons:
Unique real estate class that thrives on change
Lower development and operational costs than office, retail, and apartment buildings
Resistant to recessions due to lower default rates compared to other asset classes
Favorable tentant-landlord laws and determined by most governmental authorities as "Essential Use"
Self-Storage asset class has the highest total returns over 5 and 10 year averages according to NAREIT
The Storage Haven self-storage facility in the Mountain Island Lake area of Charlotte, North Carolina was a ground-up development from entitlement to operations by S3 Storage Solutions. This is a 91,000 square foot Class-A facility offering climate and non-climate controlled space, with Boat/RV parking. The property was comprised of two bi-level structures and one single level structure, all of the 604 storage units are accessed from the ground level access with no elevators. The facility opened for business in the Fall of 2020 and was ultimately sold in May 2021 to a private equity group. This project produced returns for its Limited Partners greater than projected and in roughly a third of the intended hold period. The Storage Haven was located at 10023 Callabridge Court Charlotte NC 28216.
S3 Storage Solutions is currently working on the identification and underwriting of a new self-storage development project. More information coming soon.
We invite all contractors and industry suppliers interested in becoming part of the S3 Storage Solutions partnership to contact us.