Business

The Self-Storage Industry and the Fluctuation from Corona Virus

Published

2 years ago

December 26, 2022

In recent years, the self-storage industry in the United States has been largely dependent upon what insiders call the four D’s: death, divorce, displacement, and disaster. However, the Coronavirus pandemic, combined with reckless expansion and aggressive competition, resulted in what seems to be a few recession-proof elements of the commercial real estate industry.

The industry has been at its peak of expansion since the last downturn because of the lockdown and quarantine period when companies and people increased their need for storage space. Gradual increases in demand and price made rivals eager to bring innovation into the industry by expanding technology and customer-focused services. For example, The Storage Group, one of the companies that provide self-storage feasibility and reliable services, was founded by Brian Pelski and Larry Hanks in 2010. Steve Lucas currently holds the charge of the CEO and managing partner. The company remained focused on innovation and brought its idea and a progressive way for succession through ClickandStor® Online Rental Suite. It was the first company to welcome the latest technology to the industry and created the first fully-integrated, online move-in platform available to the self-storage industry. As a result, The Storage Group collaborated and integrated with several companies, including Self Storage Manager, Storage Commander, Doorswap, Web Self-Storage, SiteLink, and Storage.

ClickandStor provides the most cost-effective and easiest way for the end user to rent storage and manage their online storage account. It enables the user to browse several facilities listed on its directory website clickandstor.com allowing customer access, storage rentals, reservations, payments, and more. ClickandStor is also provided on individual storage websites to make the rental process simple to navigate online. Whether customers visit the facility website or come through the online directory, ClickandStor allows them to register, digitally sign in and make all required payments without human interaction.

ClickandStor is transforming the way of self-storage businesses and their applications. With its new features and technology, users only need a cell phone or a computer to access the entire unit from the storage website, gateway access code, and payment schedules.

Value-added features of ClickandStor include a 3D value pricing map, 3D calculator, multi-lingual marketplace, enhanced security features, and more. The online rental tool provides daily 24/7 updates of inventory, units, and pricing in real time for tenants regarding reservations and rentals through integrating with the self-storage property management software systems.

Pandemic and Rents

Rents went to their heights during the pandemic. However, according to a research site, Yardi Matrix, the rates began to fall in June for new customers before one-time discounts for a 10×10 unit excluded heat and air-conditioning. To be sure, around 4.3 percent declined nationwide on an annual basis. Moreover, a fall of about 6.7 percent for climate control units was seen. Interestingly, this was the case in the pandemic only. Whereas coronavirus cases are halted around the country, the leaders are putting fewer restrictions on schools and businesses. Thereby, the industry of self-storage industry is under progress revival.

The self-storage industry started in the 1960s when consumers led businesses in America to buy more stuff than they had the capacity for. Ever since then, the industry has been in progress and steadily growing.

The rates of climate control units and without touched their height nationwide in the previous years after the demand ballooned. Americans with available income bought more stuff and realized the need for more storage places to store them.

According to IBIS World research, the number of self-storage facilities boomed nationwide and grew to more than 60,000 in 2020 from 47,000 in 2008. At the same time, the revenue increased 2.6 percent annually to $38.6 billion in 2019 from 2014.

The industry also faced numerous challenges during the pandemic, like any other business similar to the ones meant to protect residential tenants. Especially in Los Angeles, where in June, an ordinance was passed that deferring rent or late fees for self-storage will expel and ban the tenants.

Self-storage suppliers struggled with problems similar to other industries, like keeping surfaces cleaner. This varied from state to state. However, the lockdown orders were essential to follow for every business.

Revenue took a halt when rents stagnated. By the end of May, the average rent for the self-storage companies was about the same as the previous year, according to Green Street Advisors. But this did not stop self-storage companies from developing or taking a break. With the immense need, the valuation is expected to grow to $115.62 billion in 2025. According to this prediction, the compound annual growth rate would be 134.79% over the forecast period of 2020-2025, increasing the need for supportive self-storage businesses like The Storage Group.

Business

Mega Construction Projects That Relied on Advanced Crane Technology

Published

2 days ago

February 21, 2025

Matthew Wiles

When it comes to large-scale construction projects, the right equipment can make all the difference. From towering skyscrapers to massive bridges and complex infrastructure developments, cranes play a crucial role in lifting, transporting, and positioning heavy materials with precision and efficiency. As technology has advanced, so too has crane engineering, allowing for safer and more ambitious builds. In the points below, we take a closer look at some of the world’s most impressive mega construction projects that relied on cutting-edge crane technology to bring them to life.

Burj Khalifa – Dubai, UAE

Standing at a staggering 828 metres, the Burj Khalifa remains the tallest building in the world. Constructing such a colossal structure required cranes that could operate at extreme heights. Specialised luffing-jib tower cranes were employed to lift materials hundreds of metres into the air, battling high winds and desert heat. These cranes were anchored to the structure itself as it rose, ensuring stability and precision throughout the build.

Sydney Metro – Australia

As Australia’s largest public transport infrastructure project, the Sydney Metro has transformed the way people move around the city. The project required massive tunnel boring machines (TBMs) to carve underground routes, but just as critical were the cranes used to transport and position enormous precast concrete segments. Mobile and crawler cranes with advanced hydraulic systems played a key role in assembling stations and track infrastructure with minimal disruption to existing road networks.

Hong Kong-Zhuhai-Macau Bridge – China

This engineering marvel, stretching 55 kilometres across the Pearl River Delta, is one of the longest sea crossings ever built. Given its scale, floating cranes with immense lifting capacity were used to position pre-fabricated bridge sections. Some of these cranes had lifting capabilities exceeding 3000 tonnes, demonstrating the sheer power and precision required for such a complex marine project.

The Panama Canal Expansion – Panama

The expansion of the Panama Canal was one of the most ambitious infrastructure projects in recent history, involving the construction of massive new lock chambers. Gigantic gantry cranes were used to install the enormous steel lock gates, some weighing over 3000 tonnes. These cranes had to operate with pinpoint accuracy to ensure the seamless functioning of the canal’s new locks, allowing for the passage of larger vessels.

Hinkley Point C Nuclear Power Station – UK

The construction of this next-generation nuclear power plant has required some of the world’s most advanced heavy-lift cranes. The site features one of the largest land-based cranes in the world, capable of lifting reactor components that weigh hundreds of tonnes. These high-tech cranes have been crucial in ensuring the safe and efficient assembly of the plant’s intricate infrastructure.

The Role of Advanced Crane Technology in Modern Construction

Each of these projects would have been impossible without the evolution of crane technology. Innovations such as digital load monitoring, autonomous operation, and enhanced safety systems have allowed cranes to handle heavier loads with greater precision than ever before. For companies tackling complex construction projects, working with an experienced crane hire provider is essential. Businesses like Sventek Cranes offer cutting-edge crane solutions, ensuring that even the most ambitious projects can be completed safely and efficiently.

Mega construction projects continue to push the limits of engineering and design, and advanced crane technology remains at the heart of these achievements

Whether it’s lifting components for a record-breaking skyscraper or positioning bridge segments over open water, cranes will always be an integral part of building the world’s most remarkable structures. By leveraging state-of-the-art crane systems, today’s construction industry is making the impossible possible – one lift at a time.