Update 2/13/20 – Cokaliong Shipping Lines Inc. has opened Storage Town in Cebu. The self-storage facility comprises more than 1,000 units ranging from 1.8 to 90 square meters. The company had reservations for nearly 100 units prior to opening, according to the source.
Storage Town has partnered with real estate firm Filipino Homes to assist with property management. “Filipino Homes is the biggest realty brokerage firm in the Philippines, [and] we are partnering with them,” said Chase Cokaliong. “Space is becoming a premium, and we hope to address that need by providing storage that’s secure and convenient for our customers.”
2/21/19 – Construction has begun on the first self-storage facility in Cebu, Philippines. Called StorageTown, the three-story building on Sacris Road in the village of Cabancalan in Mandaue is expected to open in November. It’ll comprise 10,000 square meters of storage space once complete, according to the source.
The 4,692-square-meter property is being developed by the Cokaliong siblings—Chanel, Chase, Chaz and Chesna—who’ll also operate the business. The family decided to open a self-storage facility in answer to the area’s rapid urbanization.
“Space is becoming a premium, and we hope to address that need by providing storage that’s secure and convenient for our customers,” said Chase Cokaliong, president of StorageTown Inc., and vice president for fleet operations and human-resources manager for Cokaliong Shipping Lines Inc. “The challenge in this industry is the awareness. This is something new in Cebu, but we are confident our clients will see the value of what we are offering.”
StorageTown invested P250 million in the development, which included the land acquisition and construction. The site will be open 24 hours, and unit sizes will range from 2 to 90 square meters, the source reported. Security measures will include PIN-code access and video cameras.
The Cokaliong Family launched its shipping line in 1989. Led by founder and CEO Chester C. Cokaliong, it operates cargo and passenger ferries on eight routes in the Mindanao and Visayas regions.
Sources:
BusinessWorld, 1st Self-Storage Facility Opens in Cebu
Pressreader, Space as Small as 2 Square Meters for Lease
SunStar, Cokaliong Siblings to Open Self-Storage Facility in Cebu
