Nearly 50 storage facilities can be found across six ZIP codes in the Greater Tomball and Magnolia areas. At least three storage facilities opened in 2016 with two more openings slated for early 2017 as the area continues to grow.
“We saw a need for [the storage facility], because everybody else was full,” said Tina Collins, assistant to the owner of Superior Storage, which opened near FM 1488 in August.
According to Reis Inc., a commercial real estate data firm, usage rates of storage facilities in the Far Northwest/Montgomery submarket—which includes Tomball and Magnolia—have increased over the last four years. Vacancy rates averaged 8.6 percent in the third quarter of 2016, down from 17.9 percent in the first quarter of 2012.
As demand for storage facilities has increased, storage rental prices have steadily climbed. According to data from Reis, prices have increased nearly 19 percent since the first quarter of 2012, averaging $90.02 in the third quarter of 2016 for a 10-by-10-foot nonclimate-controlled unit.
Amazing Spaces Vice President Kathy Tautenhahn said the company chose to add a Magnolia location to better serve its clients in the Kuykendahl Road and FM 2978 areas. The facility opened in December.
“Storage really typically only services a 3- to 5-mile radius, so being that everybody wants to be close to the things that they are storing, it made perfect sense to us [to build on FM 2978],” Tautenhahn said. “[There are] so many new communities that are growing out there.”
Collins said she believes industry growth is synonymous with apartment growth.
“This area is growing and it’s ridiculous, and there [are] apartments going up everywhere,” she said.
Additionally, RV and boat storage is in high demand, due to homeowner associations that prohibit such vehicles, Collins said.
Tautenhahn said business for storage facilities peaks when customers are storing seasonal items, such as holiday gifts or extracurricular gear, and during the height of moving season, which usually occurs in the summer.
“People use storage as an extension of their home,” she said. “Truly a lot of our customers may come in with a relocation need but then will continue on [with] a unit just as an extension of an attic or garage.”
The Greater Tomball and Magnolia area includes nearly 50 storage facilities, five of which are new buildings. Amazing Spaces Vice President Kathy Tautenhahn said customers often seek a storage facility within 3-5 miles of their homes.[/caption]
