Self-Storage Facility Made of Shipping Containers Coming to Houston

The 1,017-unit property, developed by GreenSpace Holdings, will operate under the CubeSmart brand. The project is part of GreenSpace’s strategy to build 50 self-storage facilities across the U.S. by 2024.

Rendering of the self-storage project at 2515 Westminister Road
Rendering of the self-storage project at 2515 Westminister Road

GreenSpace Holdings broke ground on a 1,017-unit self-storage facility in Pearland, Texas, a suburb of Houston. TMS Contractors plans to build the property out of surplus shipping containers, with completion slated for spring 2018. JLL’s Chris Bergmann represented the developer in the acquisition of the two-acre site.

“We have been working hand-in-hand with our general contractor for over a year on the feasibility of our design, which my partner David Ledoux and I sketched on a napkin more than two years ago,” Rick Stockton, co-owner of GreenSpace Holdings, said in a prepared statement. “This is truly the culmination of a remarkable journey for both of us.”  

Efficient design

The Class A asset will be located at 2515 Westminister Road and will offer 95,565 square feet of rentable space across three stories. The facility will feature 24-hour surveillance, electronic access control, climate-controlled units and a retail-oriented customer service office.

Situated on a lot at Pearland Parkway and FM 518, the facility will be near a mix of national and regional retailers including Lowe’s Home Improvement and H-E-B. One of Houston’s fastest growing suburbs, Pearland experienced nearly 100 percent population growth from 2000 to 2015, during which time there was very little construction of climate-controlled storage facilities, according to GreenSpace.  

GreenSpace claims that its patent-pending design that utilizes surplus shipping containers reduces construction costs by up to 50 percent. The construction schedule ranges from four to six months, and the occupancy level required for a positive cash flow is roughly 45 percent. The development reduces electricity consumption and carbon dioxide emissions by about 660 tons during manufacturing and construction. The saved energy is sufficient to power more than 500 homes for a full year.

Expansion strategy

GreenSpace Holdings also purchased a two-acre land parcel for the development of another CubeSmart-branded facility at Brittmoore Road and Interstate 10 in Houston. Construction is scheduled to begin this year. The 132,967-square-foot asset will offer 1,401 units of climate-controlled storage. JLL brokered the acquisition of the lot.

The Houston-based self-storage developer plans to build 50 multistory self-storage facilities across the U.S. in the next seven years.  

Image courtesy of JLL