Need a storage unit in Traverse City? Good luck.

The effects of the local real estate boom have reached the storage market. Turns out business is dynamite for storage unit owners, but demand is far exceeding supply and leaving lookers with few options.

Six TC self-storage rental companies tell The Ticker the same story – all completely full with waiting lists.

“For the past 16 to 18 months it’s been very hit or miss on finding a storage unit in Traverse City,” says Tom Hartgerink, general manager of Silver Lake Storage and Storage Attic in Traverse City, with approximately 850 units between the two businesses.

It’s the same deal at the competition, including West Bay Self Storage, Traverse City Mini Storage and Security Storage.

“We’re completely full (504 units) and 25 deep on the waiting list,” says Shannon Baynton, office manager at Cass Road Self Storage. She adds the demand has been like this for three years.

“We have been full (385 units) with a wait list for the last couple of years,” says Dan McGoran, manager of Security Storage. “People come and go but we turn it around and rent it right away. We get calls all day, every day.”

Matthew Jostock, property manager for Traverse City Mini Storage says there used to be more seasonality in rentals, but now he is seeing the property more consistently full, with longer rental periods, year-round.

More people moving to larger houses, switching from renters to buyers, or people moving into the area are all contributors. Hartgerink confirms that the larger units are most in demand, for people looking to store an entire house’s contents due to a move.

“The storage market definitely follows the real estate market,” he adds.

Case in point: Former Lake Ann resident Marika Bevier found herself dialing for storage just a couple of days after putting her family’s home on the market and landing a buyer. This was late April and it took six calls, but she did eventually find an available unit.

Now the demand is spurring some new projects this spring. Hartgerink said his company is constructing two more self-storage buildings – one at each location that will add 30,000 square feet of rental space and has more land for future expansion.

“It did hit quicker than we thought it would,” Hartgerink said of the high demand for space.

At least three new self-storage businesses are now under construction around town, according to county building permit records, while others are seeing more opportunity.

If a potential buyer doesn’t end up building a storage facility on a parcel adjacent to Simon Wolf’s Signplicity business, Wolf says he might go ahead and build one himself.

“With storage units its all about location and variety of sizes,” Wolf says. “And we’re right on the highway.” Wolf adds that the cash flow is solid for storage businesses.

“Even at 50 percent occupancy they make money,” he says. “And the banks love them.”