A Current Examine Reveals That Wesley Chapel Is Main The Complete Nation In Self-Storage Development, With Extra On The Manner, However…
Story by Gary Nager & Joel Provenzano
In fact, it’s some of the well-liked (albeit tiresome) working jokes on this neighborhood that Wesley Chapel is overrun by hen locations, automobile washes and sure, self-storage amenities.
Actually, a RentCafe report revealed within the Enterprise Observer newspaper exhibits that over the previous 10 years, Wesley Chapel, “has seen its storage capability skyrocket 672%, leaping from 76,000 sq. ft to 587,000 sq. ft. That leap lands it as No. 1 on the top-10 listing cities for storage development within the nation between 2014 and 2024.”
In fact, the report additionally notes that, “Wesley Chapel shouldn’t be formally a metropolis however thought of an unincorporated census designated [place],” (or CDP) and it’s additionally not clear whether or not the RentCafe report makes use of the three Wesley Chapel zip codes (33543, 33544 & 33545) as its boundaries of “Wesley Chapel” or if the Wesley Chapel CDP boundary, which extends from I-75 west to Wesley Chapel Blvd. and contains the realm across the Tampa Premium Retailers (however not another communities positioned throughout the Wesley Chapel zip code maps) — however right here’s the underside line:
We’ve obtained a crap-ton of storage amenities in our space — 9 inside zip codes 33543 and 33544 (however only one, a minimum of up to now, in 33545) and two alongside Wesley Chapel Blvd. with both a Lutz (33559) or Land O’Lakes (34639) zip code — and, sorry to say, extra are on the best way.
By our calculations (see chart beneath), that provides as much as 837,300 sq. ft. in 33543, 33544 & 33545, plus a further 180,300 sq. ft. alongside Wesley Chapel Blvd. (or 1,017,600 sq. ft complete), and a minimum of two extra below building, totalling a further 212,600 sq. ft., in Wesley Chapel “correct” — one on Curley Rd. simply north of S.R. 54 (the second in 33545) and the opposite on Mansfield Blvd. close to Wiregrass Ranch Excessive (in zip code 33543). With none extra amenities being constructed, our space can have 1,230,200 sq. ft. of those enormous, most would say ugly, buildings “invading” our private house.
So, who wants them?
Apparently, all of us do — and so they certainly appear to be money cows for many who develop and personal them — or they wouldn’t preserve constructing them.
In accordance with the RentCafe report, “In Wesley Chapel, the expansion in cupboard space — like its development in housing and retail — is being pushed by extra individuals shifting to the realm.” The report discovered that, “the central Pasco locality noticed its inhabitants enhance 53% between 2014 and 2023.”
“It appears, the report’s authors write, that ‘each new family comes [with] a wave of belongings, and self-storage has stepped in to assist handle this overflow.’
“The report notes one different think about its findings on Wesley Chapel: The expansion in cupboard space is unlikely to decelerate anytime quickly. The world at present provides about 4.6 sq. ft of self-storage per capita, which stays nicely beneath the nationwide benchmark, ‘suggesting there’s nonetheless loads of room for additional enlargement.’ (A RentCafe spokesperson didn’t reply to a query about what the nationwide benchmark is.)”
In different phrases, right here in Florida, the place there is no such thing as a such factor as basements in most homes and attics are, typically, means too small to accommodate all of our “stuff,” these enormous monstrosities are right here to remain.
And no, they aren’t low cost, both. Though we discovered that almost all storage amenities listing models “beginning” as little as $54 per 30 days for a 4’x5’ unit and most listing their largest models — often 10’x20’ — within the low $200s per 30 days, we all know first-hand that a few of these climate-controlled models fetch greater than $400 per 30 days. Ugh.
Nationwide, the realm from South to Central Florida was the toughest hit in the course of the recession of 2008-09, by way of housing foreclosures. Building on almost all the things slowed for years, particularly right here in Wesley Chapel.
However, the Wesley Chapel space, particularly, has been enjoying catch up fairly shortly ever since, with each residential and business improvement skyrocketing not too long ago, in addition to within the variety of storage amenities, which took almost a decade after the recession’s peak to start out popping out of the bottom once more in our space.
In a state with out actually usable attics and no basements, Florida looks as if a first-rate marketplace for this trade, however there’s extra to it than that, particularly for a (actually) scorching market, as most (however positively not all) of the storage models are climate-controlled these days.
The RentCafe article cited above says that Wesley Chapel is the fastest-growing self-storage market within the U.S. We confirmed that is doubtless true, however determined to drag the numbers ourselves (for each present amenities and people below building), to present a extra correct illustration of the place our space stands at present. In different phrases, are we truly “under-” or “over-” saturated with self-storage amenities?
In accordance with the information in our evaluation, we calculated the leap in cupboard space during the last 10 years for Wesley Chapel to be precisely 700% (near the RentCafe’s report of 672%), from 175,600 complete sq. ft. in 2014 to 1,230,200 sq. ft. by the start of subsequent 12 months. Listed below are extra numbers, and the reply to that urgent query:
The typical rentable storage space is about 75% of gross ground space, so: 1,230,200 sq. ft. x 0.75 = 922,650 rentable sq. ft., divided by an estimated 110,000 individuals (in our Wesley Chapel service space) = 8.4 sq. ft. (sf) per capita.
The Nationwide Common for self-storage is 7-8 sf per capita, so with the 2 latest ones below building on Mansfield Blvd. and Curley Rd. (see chart, proper), Wesley Chapel is simply now barely above the nationwide common, placing us on-trend to maintain up with the realm’s speedy development, making us a “balanced market,” that’s neither under- nor over-saturated.
Actually, there’s nearly little question that a minimum of a few extra self-storage places will nearly positively be wanted — particularly from Epperson and Watergrass north to Mirada/San Antonio — over the following few years to keep up that balanced dynamic, as extra individuals proceed to maneuver to the realm. So, as unpopular and maligned as they might appear, storage amenities present necessary assist for a wholesome, thriving neighborhood.
However, Why Are They Wanted?
Native social media feedback on posts about self-storage amenities are fast to categorize them as “a blight on the panorama,” “a waste of house” or, at greatest, “a crucial evil.” However, are they actually any of this stuff?
The plethora of shoppers filling these amenities and the almost good Google evaluations for all the ones constructed throughout or after 2018 appear to point in any other case, as most individuals who use them appear to be, total, fairly pleased with the expertise, with one caveat — worth.
Self-storage pricing modifications to match actual property traits — in different phrases, as housing, workplace and retail prices go up, so does the price of self-storage.
However, Who Are These Firms?
Though lots of the native self-storage amenities have modified arms not too long ago — and several other have modified manufacturers a number of instances — the most important present supplier of cupboard space to lease within the Wesley Chapel space is also the #1 or #2 (relying upon which Synthetic Intelligence search response you belief) largest such firm within the U.S. — Additional House Storage, which operates greater than 4,000 storage amenities in 42 states and Washington, D.C.
The second largest operator is Public Storage, with greater than 3,300 places throughout the U.S., Canada and Europe.
Our Google AI search response additionally mentioned, “It’s price noting that Additional House Storage’s current acquisition of Life Storage considerably elevated their retailer rely, pushing them previous Public Storage by way of variety of places.”
The pattern in the direction of extra storage amenities isn’t only a native phenomenon, as StorageCafe says that, as of June 2025, there may be now greater than 2 billion sq. ft. of self-storage house within the U.S., with 62.3 million sq. ft. delivered in 2024 and 56.1 million sq. ft. anticipated to be added this 12 months. StorageCafe additionally says that 1 of each three Individuals rents a cupboard space on this nation.
The pattern elevated throughout and because the pandemic, as increasingly individuals have operated home-based companies, lots of which require protecting stock for these enterprise someplace apart from within the peoples’ properties.
Primarily based on private expertise, the expansion of hoarding additionally appears to have been an element.
However, self-storage additionally is an efficient enterprise mannequin in at present’s world, with low numbers of staff, little or no repairs required and actually each obtainable sq. foot earning money for the enterprise house owners. Nationwide, occupancy charges peaked at round 92% in the course of the pandemic, however even with barely decrease occupancy now (round 87%), that’s nonetheless larger than most condo and lodge occupancy charges, with a lot much less upkeep required.
Some Native Perception
Whereas taking photographs of the skin of one of many storage buildings, we noticed an indication that mentioned “Stock Sale,” so we determined to test it out.
On the second ground, we met Lisa Gillispie, a enterprise associate with L&J Elite occasions, a extremely rated native enterprise which focuses totally on weddings. She defined that her enterprise was “needing to downsize” — promoting among the stock objects the corporate makes use of repeatedly to stage its occasions — all the things from candle holders and imitation floral preparations to fantastic dishes and silverware, all in storage containers on shelving models from ground to ceiling (picture).
“Our largest unit has been 10’x35’ and we have to downsize from our present 5 models costing $1,200 a month,” Lisa mentioned. “We used to have 4 smaller models that price $500 a month, however the worth has nearly doubled the previous few years.”
Though she lives in Dade Metropolis, Lisa mentioned her enterprise associate lives nearer to Wesley Chapel and famous, “A whole lot of our enterprise is on this space.”
That helped us understand that lots of the individuals who want these models usually have a really particular purpose for needing them, and for these people, a minimum of, it’s not likely about storing some ineffective junk.
We spoke with a long-term full-time worker at one of many native self-storage workplaces (who requested to not be named within the story) to get some perception into the enterprise domestically and the shoppers they find yourself serving.
“There are plenty of small enterprise house owners, consultants, native medical provide corporations and residential stagers,” the worker mentioned, “so storage is an important useful resource for them,” including that, “We do have plenty of unit turnover” — which means that many self-storage prospects are solely utilizing the models for brief intervals of time. “For individuals shifting in from out of city or condo residents, storage helps. All the new building is bringing prospects in, people who find themselves ready for his or her properties to be completed being constructed or different sudden life modifications.”
The worker admitted that the price of proudly owning a self-storage enterprise is fairly low.
“Sure, I’m the one full-time worker, and we have now a few half time staff, however we’re good neighbors. We preserve a clear property (constructing) and parking zone, preserve our landscaping, and don’t create a lot site visitors.”
We additionally visited Morningstar Storage (behind the Audi Wesley Chapel dealership on S.R. 56), the place we found that some native storage companies do much more for the neighborhood, providing free or discounted storage models to charities and different non-profits, with ten nonprofits listed on a board within the enterprise’ foyer, with much more that Morningstar provides for seasonal storers, like Toys-for-Tots.
In different phrases, when you might hate the best way they appear and surprise why there need to be so f*@#ing lots of them, self-storage amenities are just about a necessity in most communities, particularly these rising by leaps and bounds, like Wesley Chapel.
However, are they right here to remain? We’ll need to see.
