Self Storage Market Strong in Myrtle Beach

Pack rats find more Strand options

June 26, 2008

By Jessica Foster – Sun News

Many businesses are floundering in today’s sluggish economy, but not the self-storage sector.

Storage facilities continue to crop up across the Grand Strand, and despite the increased competition, occupancy rates at many of the local facilities are on the rise.

Space-constricted businesses, homeowners and renters are fueling the growth.

“People need to put their items someplace. They don’t want to sell them or get rid of them,” said Joe Cuozzo, owner of Southern Storage in Murrells Inlet, where all of the 163 storage units are occupied. “Even though maybe the economy is slow, they still want to hold on to their items.”

Three new storage facilities have opened this year in Horry County, making a total of 54, and more are on the way.

Plantation Storage opened in April in Carolina Forest, its third location in South Carolina, and already about a third of its units are claimed.

“We are in a growth mode and expansion mode,” said Charles Chase with Chase Properties, Inc., who owns the chain.

Though Chase declined to give occupancy rates for the chain, he said the business is still growing, though at a slower rate than during strong economic times.

“We’ve weathered recessions in the past fairly well. We’d like to think we’re somewhat recession resistant,” he said. “Even in a down-time economy we feel like there’s a reasonable amount of business that still needs us.”



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