On Wednesday, November 2, 2022, Bluebird Self Storage acquired City Centre Storage Ltd at 824 Johnson St, Victoria, BC. With locations stretching from Victoria, BC to Halifax, NS, Bluebird is Canada’s first coast-to-coast self-storage brand.
Bluebird is capitalizing on the growing consumer demand for modern, class-A self storage as it continues building and buying assets across Canada. Self storage is a growing real estate sector in Canada as municipalities continue to push urban densification, and population centres grow.
Bluebird is Canada’s 5th largest self storage company. Its portfolio consists of 2.5 million gross square feet (GSF) and over 20,000 storage units. Including projects under construction, Bluebird boasts over 4 million GSF.
Bluebird currently has 40 locations operational or in planning stages, with plans to add 20 locations over the next 24 months.
Bluebird Focuses on Premium Self Storage
Bluebird is obsessed with delivering a premium customer experience. At a time when competitors are cutting costs and eliminating staff, Bluebird remains committed to providing full service at its locations. Bluebird locations are generally larger and of higher quality than other storage facilities so it makes sense financially to invest in superior customer service staff. Local store managers directly handle customer phone calls, online live chats, and emails. The staff know their facilities and their neighborhoods best and greet customers with a smile each day.
Self storage is an integral component of urban environments. Today’s consumer demands attractive retail buildings, modern amenities, and mixed-use developments for one-stop shopping. Convenience, accessibility, and visibility are important. Consumers want self storage to be located close to where they live and work. In many cases, self storage serves as an extension of a customer’s home-based business or an extra closet that’s an essential part of their routine.
Self Storage In Short Supply
“There is a lack of self-storage across Canada, particularly in terms of modern, next-generation class-A facilities that younger generations and female customers prefer,” said Reade De Curtins, principal of the Toronto-headquartered company. “Our storage concept has evolved to become an extension of people’s lives. Bluebird is leading the charge in developing Canada’s next generation of self storage facilities.”
If you compare the U.S. to Canada, in the U.S. there are over nine square feet of self storage supply per person in the top 25 most populated markets but in Canada, there are only three square feet per person.”
“Unlike the U.S., if an institutional player wanted to consolidate a predominantly class-A brand across Canada, that opportunity doesn’t exist. There’s not much existing class-A product; it needs to be built. Fortunately, Bluebird’s experienced team has developed over 120 self-storage locations (10,000,000 GSF) in Canada and the U.S. Bluebird is a vertically integrated self storage company, making it uniquely well-positioned to handle development projects, acquisitions, and third-party management opportunities.”
Bluebird Expands Outside Toronto
Bluebird’s roots may be in Toronto self storage but its branches extend far and wide. In 2020, Bluebird identified attractive investment opportunities outside the GTA.
Bluebird operates self storage facilities in British Columbia, Alberta, Ontario, Quebec, New Brunswick, and Nova Scotia, with many more locations on the way.
Bluebird has six new self storage facilities in Calgary that are under development in very high-profile retail locations. There are also projects underway in Montreal, Quebec, and the Maritimes.
New development is happening in the Prairies as well. Projects are planned for self storage in Winnipeg and Saskatoon.
There is a lot of excitement right now for self storage in Canada. Bluebird receives numerous inquiries from future business partners for three primary purposes: self storage development (build a Bluebird), self storage acquisitions (sell a store to Bluebird), or self storage third-party management (hire a property manager).
A Digital Company in an Analog Industry
Bluebird’s modern property management platform allows it to use cutting-edge technology to better serve customers on its website and via live chat. Bluebird is a digital company in an analog industry. Competitors have been doing things the same way for decades and today’s consumer is looking for a modern customer experience and premium facilities.
There’s no doubt that Bluebird’s premium self storage concept is disrupting the industry. Bluebird Self Storage’s future is bright!