StoreWest Group - Celebrating Business Excellence

Buffalo Run, Tsuut’ina.

THE SELF-STORAGE

REVOLUTION

C O M E S

T O

C A N A D A

StoreWest Group of Companies 115

Esandar Drive, Toronto

I

t was a sunny day in late June and a large crowd had gathered for a ribbon cutting in Southwest Calgary. On one level, it was a pretty ordinary Grand Opening event.

A new retail store was opening in The Shops at Buffalo Run, a vibrant new commercial centre anchored by Calgary’s newest and busiest Costco. The crowd was made up of members of the Calgary’s business community, and friends and family of the owners. There were tents and balloons, along with drinks and appetizers.

Looking deeper, however, this event was anything but ordinary. The Shops at Buffalo Run is located on First Nations land, part of the innovative new Taza development, a 1,200 acre mixed-use project owned by the Tsuut’ina Nation. The ribbon cutting ceremony was attended by Tsuut’ina Elders, who led off the opening with a blessing ceremony. The building was also unusual in that it contained not one, but two businesses. In addition to the primary retail space, the building had a fully-integrated express car wash built into it, something never before done in Calgary. Most importantly however, instead of a store or a bank or a restaurant, the primary retail business was a self-storage facility.

The team had a clear vision.

They wanted to bring self-storage in Canada into the 21st Century.

StoreWest Group of Companies • 2

Buffalo Run grand opening

FROM HUMBLE BEGINNINGS For the team at StoreWest, this opening in many ways represented the culmination of seven years of hard work.

The journey began in 2016 with a single property in Chestermere, Alberta. As Roland Schatz, president of the StoreWest Group of Companies, notes, “We literally started from nothing. Our first office was a combination between my dining room and a nearby Starbucks.” The team did, however, have a clear vision. They wanted to bring selfstorage in Canada into the 21st Century.

When most people think of self-storage, they tend to think of ugly, corrugated steel buildings and barb-wired fences,

Precast concrete the most secure self storage solution.

Design.

Precast concrete - the most secure self Manufacture. storage Build. solution.

Design.

Manufacture.

Build.

Design.

Manufacture.

Build.

Design.

Manufacture.

Build.

Design.

Manufacture.

Build.

South Sheridan Way, Mississauga

buried off in some remote industrial park. “Self-storage has always been seen as an industrial use,” explains Schatz, “visually unappealing and best hidden away.” The team at StoreWest felt it was time to challenge this view. They believed they could build high-quality facilities located closer to, or even within the residential communities that used them. More importantly, they saw a huge opportunity for early-movers in this space in Canada. “Of the roughly 3,000 storage facilities in Canada today,” notes Schatz, “only 5 per cent of them are what we would call Class ‘A’.

So, we saw a huge opportunity in the market to create a better product, not just in Alberta, but across Canada.”

Despite Alberta being mired in recession at the time, the team was able to secure financial backing from Meckelborg Financial Group (MFG), a Saskatchewan-based portfolio management group, for their first two projects. MFG had a long history of success with alternative assets, and saw storage as an excellent complement to their existing investments in student housing. “We knew members of the StoreWest team very well,” explains Mark Meckelborg, president of MFG, “and we bought into their vision for this asset class, and the opportunity it represented for our investors.”

A new Canada-USA partnership is disrupting the national self-storage scene, expanding the Bluebird Self Storage brand coast-to-coast.

StoreWest Group of Companies • 4

The Nest, South Sheridan Way, Mississauga

With MFG’s support, between 2016 and 2020, StoreWest built two self-storage facilities in the Calgary area – Chestermere and Dufferin – along with a state-of-the-art car wash facility at Dufferin.

And now, a new Canada-USA partnership is disrupting the national self-storage scene, expanding the Bluebird Self Storage brand coast-to-coast.

StoreWest first encountered Bluebird in late 2019, while looking for new third-party management for their two storage facilities. Originally out of the U.S., the founders of Bluebird – Jamie Bennett and Reade DeCurtins – had been active building storage facilities in the GTA for almost

.

Canada’s most respected Debt Advisory.

Proud partner to Bluebird Self Storage.

www.realcapfinancial.com

MECKELBORG FINANCIAL GROUP LTD.

Meckelborg Financial Group is proud to work alongside our partners Bluebird, StoreWest, and ICM Asset Management in the rollout of the ICM Bluebird Partners Trust.

We are thrilled with this partnership that is bringing Class A Self Storage investment opportunities to the market.

We look forward to years of successful business.

INFO@MFGLTD.COM

WHAT WE DO At Meckelborg Financial Group, we’re working to bridge the gap between Canadian investors and wealth management solutions typically reserved for the institutional investor.

We’re a boutique investment firm that is looking to change the way Canadians are investing.

We go above and beyond for our clients and truly believe in the power of financial advice to change lives for the better.

WWW.MFGLTD.COM

1-306-933-9993 StoreWest Group of Companies • 5

Cityview Boulevard, Woodbridge 20 years. In 2016, they launched the Bluebird brand in Canada, and began building Class ‘A’ facilities in the GTA under the new brand. In 2019, DeCurtins relocated his family from North Carolina to Calgary as part of Bluebird’s commitment to the Canadian market.

What started as a management contract with Bluebird’s newly formed management company quickly blossomed into a deeper relationship. Supported by MFG, Bluebird and StoreWest collaborated on the acquisition of existing self-storage facilities in Montreal and Dartmouth, while also agreeing to partner on two new Class ‘A’ self-storage development projects in Calgary. “We quickly saw a lot of synergies between the two groups,” says DeCurtins, co-founder of Bluebird. “Like us, StoreWest was focused on disrupting storage in Canada, and wanted to build a portfolio of best-in-class assets.”

This growing partnership consolidated in late 2022 with the founding of StoreWest Bluebird Partners Ltd, a joint venture between the companies to centralize all development across Canada under one roof. “Partnering with Bluebird not only gave us access to a great brand and management company,” states Layne Gardner, VP Real Estate for StoreWest, “it also allowed us to quickly expand from a regional to a national player in the self-storage space.”

StoreWest and its partner Bluebird have four projects currently under construction in Calgary, Montreal and the GTA, with six more set to begin between in four different provinces, representing roughly $200M in new development between Q3 of 2023 and Q2 of 2024. The development pipeline for 2025 and beyond is measured in dozens of properties, says Gardner.

CHANGING THE FACE OF STORAGE IN CANADA What is notable about the StoreWest Bluebird partnership is not simply the scale of it, but also the approach. It is as much about ‘how’ and especially ‘where’ to build selfstorage, and what this means for how the asset class is viewed going forward. Take the new Buffalo Run facility as a trend-setting example. It is not located in an industrial park, but instead right in the middle of retail/commercial hub, just down the street from a Costco. Its sister project, due to open later this year, is similarly located right in the middle of one of the most affluent communities in SE Calgary, Mahogany, across the street from a Sobeys and surrounded by multifamily housing. Both facilities more closely resemble retail shops or office buildings then they do self-storage facilities. “We believe the future of self-storage is to be part of mixed-use communities,” notes DeCurtins from Bluebird.

“It needs to be part of the community, not set away from it. If you are going have people living in 600 square foot apartments, having affordable extra storage space nearby makes sense to everyone.”

As part of changing the nature of storage, StoreWest/ Bluebird are not only evolving where and what they build, but also how. The team partnered with Alberta-based Eagle Builders on Buffalo Run to build their first 100 per cent pre-cast storage facility. “Eagle’s state-of-the-art process allowed us to complete the facility in roughly nine months,” explains Scott Morrison, chief development officer for StoreWest. “That’s three to four months quicker than a typical build process, which is a game changer for self-storage development.”

We believe the future of self-

TAKING THE NEXT STEP…

storage is to be part of mixed-use

In January of this year the Bluebird/StoreWest group announced the next and perhaps most important step in their journey to change the face of storage in Canada.

communities.

StoreWest Group of Companies • 6

StoreWest Group of Companies • 7

Blvd Charest, Quebec City

Together with long-time partners Meckelborg Financial Group, and Calgary-based fund manager ICM Asset Management, they launched the ICM Bluebird Canadian Self-Storage Fund.

The goal of the Fund is to aggregate Canada’s first and only coast-to-coast Class ‘A’ self-storage portfolio. “This Fund fills a much-needed hole in the self-storage industry in Canada,” states Steve Elliott, VP Investments for StoreWest. “It truly will be best-in-class portfolio for the self-storage industry.” The Fund has already acquired eight different properties, including two greenfield developments, and is focused on building a billiondollar platform in the next two years.

The team is already mapping out expansion in at least five major Canadian cities from 2024 and beyond.

FULL CIRCLE On an Autumn night in early October, the StoreWest team will be in attendance at the E&Y Entrepreneur of The Year dinner in Calgary. They are one of the finalists for the Prairie Region, and will find out at the dinner if they’ve won. “Obviously winning would be great,” notes Schatz, “but even being at the table is not something we would ever have thought possible when we started this journey.”

Schatz goes on to explain that, as part of the E&Y process they had to reflect on their growth as a company, and contemplate where they are today. “We’ve gone from a few guys meeting at Starbucks with a vision to build a couple of self-storage facilities, to $200M in development across Canada, and co-founders of a Storage Fund,” he notes with a shake of his head. But the journey is far from over.

The team is already mapping out expansion in at least five major Canadian cities from 2024 and beyond, where the original vision of revolutionizing self-storage across Canada will soon be realized.

Full-service law firm serving Alberta and beyond.

Congratulations Storewest and Bluebird Partners on your national expansion and rapid growth.

We are proud to be part of your success.

Centrium Place, 900, 332 - 6 Ave SW, Calgary | walter@carscallen.com | 403-298-0696 carscallen.com

StoreWest Group of Companies • 8

www.storewest.ca

Banff Legacy Inn. All renderings by Stefan Brzezinski.

Collaboration Is the Key to Success Written by John Hardy Published by Melissa Mitchell

I

n addition to the many advancements in new technologies and materials which have had a significant impact on the delivery of architectural design and services, Calgary’s BRZ Partnership Architecture is unique.

The dynamic small Calgary architecture practice continues to earn its respected reputation by bringing a more personalized service to each project, whether large or small. “Being a small firm allows us to take on very a small renovation as well as a very large new build.”

Hank Brzezinski, principal and architect with BRZ Partnership Architecture. Photo by Rebecca Hardcastle.

The BRZ Partnership Architecture difference is a unique hands-on casual approach to problem solving, involving not only the skills and expertise of the entire BRZ team of architects, technologists and interior designers, but also the client team, from the start of designs to completion. “In our firm, the team that is involved in the conceptual design is the same team that shows up at the final construction review.”

B R Z PA RT N E R S H I P A RC H I T E C T U R E I N C .

15 YEARS

123

With tremendous and invaluable Alberta experience, Brzezinski and the BRZ team are focused not only on constantly changing technologies and architectural design trends, but also changing client project goals and expectations.

Panorama Hills North Star Resident’s Association Addition and Renovation.

“Projects have become increasingly complex and this approach helps to simplify the process and smoothen the road during the construction phase,” says the respected Hank Brzezinski, principal and architect with BRZ Partnership Architecture.

Whether an in-depth feasibility study, renovations or the design of a new $40 million facility, he emphasizes that collaboration with clients is absolutely the most important aspect of any project. Collaboration between the client, the design team and the construction team is perhaps more important than all the state-of-the-art tools we use like AutoCAD and Revit, 3D design visualizations and Microsoft Project scheduling software.

“Making sure the client is thoroughly invested in the project is a key to ensuring that everything goes smoothly and

efficiently. After all, our reputation is built on and depends on being responsive to the specific needs of our clients, and we work closely with our clients to deliver their project ontime and on-budget,” he adds.

While good collaboration is crucial to the success of every project, Brzezinski explains that technology has enhanced the decision-making process with the ability to pull up drawings on a screen and discuss details with clients, contractors, product reps and suppliers.

With tremendous and invaluable Alberta experience, Brzezinski and the BRZ team are focused not only on constantly changing technologies and architectural design trends, but also changing client project goals and expectations. Aspects like sustainability, durability, energy efficiency and lowering the carbon footprint. All key aspects of the BRZ design approach.

Brzezinski notes interesting and exciting trends in architecture and design. “There is much demand for repurposing spaces and creating flexible spaces that foster teamwork and creating more inclusive spaces.” BRZ has completed several projects for the Calgary Public Library, the University of Calgary and the University of Lethbridge, creating meeting and collaboration rooms and creating gender neutral facilities. Inclusion is also an important design consideration for commercial spaces, restaurants and retail spaces.

DESIGNING SUCCESS FOR 15 YEARS. Congratulations to BRZ Partner Architecture Inc. on 15 years of serving our community with visionary design services.

Building a Better World by providing People-First Construction Management Experiences.

westcor.net

The respected BRZ success and expertise includes several milestones, like the recently completed Marigold Library System / Western Irrigation District Joint Facility in

B R Z PA RT N E R S H I P A RC H I T E C T U R E I N C .

15 YEARS

2

CONGRATULATIONS

BRZ PARTNER ARCHITECTURE INC. ON YOUR 15th ANNIVERSARY! CANA ReNew looks forward to many more successful renovation projects with you. www.cana.ca 100-5720 4th Street SE Calgary, AB | (403) 255-5521

Strathmore, the multi-million dollar renovation and addition of the Panorama Hills Community Centre of the Northstar Residents Association, the Banff Legacy Inn multi-unit residential complex in Harvie Heights, many projects for the Calgary Public Library, the University of Calgary and the University of Lethbridge, and others including an exterior retrofit of the Genesis Community Centre and a 131-unit townhouse complex in Edmonton.

Hank Brzezinski underscores that, from an architecture and design perspective, building standards and priorities have become tremendously complex and challenging.

Clients now expect more leadership than ever from architects and their design team.

Expertise, leadership and collaboration are important aspects of the BRZ Partnership Architecture competitive edge.

“We’re smaller and focus on more personalized service,” he points out. “We prioritize our client’s goals and make sure the client is always dealing with the same person, from start to finish.”

“We are proud of our proactive and collaborative service approach.”

#820, 717 - 7 Ave SW Calgary, AB T2G 3J4 Phone:403.532.5980 | Fax:403.532.5984 Email:contact@brzarchitecture.ca brzarchitecture.ca

Congratulations BRZ PARTNERSHIP ARCHITECTURE ON YOUR 15th ANNIVERSARY Lear Construction Management would like to thank you for all the successful years of partnership and look forward to many more!

4200-10 St NE | 403.250.3818 | learconstruction.com

Congratulations BRZ on 15 Years!

We wish you many more years of continued success.

PROJECT MANAGEMENT • GENERAL CONTRACTING

Bay F, 1235 - 40th Avenue N.E. 403 250 7610 | info@Starcraftconstruction.com

B R Z PA RT N E R S H I P A RC H I T E C T U R E I N C .

www.starcraftconstruction.com

15 YEARS

3