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10.07.2015 admin
For four years in a row, the leading location for self-storage space per person in the U.S. Palm Bay-Melbourne-Titusville has been in the top per-person position since 2009, when massive layoffs began in the area’s aerospace industry. In terms of the economy, “my personal opinion is that the area’s very depressed,” said Suzie Banks, manager of Titusville Premier Self Storage. Located in Brevard County, the Palm Bay-Melbourne-Titusville area became home to the Kennedy Space Center more than 50 years ago, transforming a once low-tech agricultural community into a high-tech paradise for thousands of highly paid earning engineers, scientists, mathematicians and tech specialists.
Historically, Florida residents, business owners and seasonal visitors (“snowbirds”) have faced space shortages. Demand for self-storage often is triggered by major life shifts, such as marriage, divorce, death, moves, employment changes and college graduation.
The Palm Bay-Melbourne-Titusville economy revolved for years around its largest employer, the Kennedy Space Center, which once had roughly 15,000 non-military workers.
Since the first round of shuttle-related layoffs began in 2009, employment shifts have altered the area, which is home to about 547,000 people. Woods, who worked on solid rocket boosters for aerospace contractor United Technologies Corp., said he was fortunate to be able to collect retirement pay at age 55.

Woods said he thinks the popularity of self-storage in the area is tied directly to the aerospace layoffs.
On a more positive note, the seasonal lifestyle changes of the snowbirds who flock to Palm Bay-Melbourne-Titusville also influence self-storage. I’m curious to see the financial impact of my own industry, and consumer interest in turnstiles. Welcome.The Storage Facilitator is the modern self-storage professional's destination for useful education, intriguing news, diverse expert perspectives, technology updates, and beyond. Get our free white paperThe Four Pillars of Profitable Self-Storage Management is an in-depth resource that empowers facility owners and managers to get more out of your business and stay ahead.
The information contained herein has been obtained from third parties and we cannot guarantee the accuracy or completeness of the information. Local businesses such as restaurants, hotels and gas stations sprouted up and thrived for years around the space center and another economic hub, Patrick Air Force Base. Homes often are designed with limited attic space, and structures rarely have basements because of flooding risks. Palm Bay-Melbourne-Titusville represents an epicenter of many of those triggers, such as the loss of jobs at the Kennedy Space Center and the annual graduation of students a local colleges.

Just two years ago, the 1,016-square-mile area was home to 48 engineers for every 1,000 workers. Between 7,000 and 10,000 workers retired, relocated or lost jobs after the final space shuttle launched. During the winter months, more than 35,000 Northerners flock to Brevard County for roughly one month to six months to soak up the beaches, golf courses and nature preserves. This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management. That was more than anywhere else in the country, until the last space shuttle lifted off in July 2011. Brevard County led the country in foreclosure filings by the end of 2012, up 12 percent from 2011, according to RealtyTrac Inc. Many of these visitors return year after year and leave their Florida belongings in storage.

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