Charles "Chip" Cordes and Tom Hankinson, both veterans of the self-storage construction field, have started their own self-storage construction, management and consulting firm, Summit Construction Management Group. The firm is based in Clermont, Florida.
The new firm will not be Cordes' and Hankinson's first chance to work together. The two are old friends and colleagues. Nor will Summit be either man's first entrepreneurial effort. For nearly fifteen years prior to joining United, Hankinson owned and operated his own general contracting firm. At the time, Hankinson specialized in building construction (both commercial and residential) and in residential land development. Cordes, on the other hand, has been a self-storage vendor since 1989. He co-founded U.S. Door & Building Components, and became its vice-president, a position that required him to travel around the world and gave him the chance to observe, and learn from, a variety of self-storage markets, modes of construction, and operating procedures.
Just prior to founding Summit, Hankinson was the Executive Vice President in charge of Development and Construction at United Stor-All Centers, where he had worked since 1995. At United, Hankinson shaped, and managed, United's land development ventures. He was responsible for physical due diligence responsibilities, project design, entitlements, construction budgets, construction management, and cost control. In that role, Hankinson oversaw the development of more than 40 large self-storage facilities, representing nearly four million gross square feet of storage space, in markets all over the country. In the course of developing those facilities, Hankinson worked directly with several development partners, including Storage USA, Extra Space, and City Storage, and with numerous financial partners, including Prudential, Fidelity, GE Capitol, and Harrison Street Investment. Hankinson is also a member of the Self Storage Association (SSA) and frequently speaks at SSA events and seminars on topics related to design and construction.
Cordes remained with U.S. Door & Building until 2009. Last year he decided to focus on self-storage development, construction, and management. Initially, he took on an assignment as consulting vice-president for National Constructors, Inc. In that role, he assisted in the management of six Sunshine Self-Storage facilities (four facilities that were in operation, and two that were in the early stages of development).
Summit Construction Management Group will offer a wide range of services. it will provide feasibility analysis, working with self-storage businesses to not only assess the viability of their business plans, but also to help owners select a team with which to work, and to independently review and report on studies obtained from various professionals.
For new self-storage facilities, Hankinson and Cordes recommend beginning the feasibility investigation by completing a land title report, a boundary/topography survey, an environmental evaluation, a geotechnical investigation, a zoning analysis, a building code compliance review, a utility service availability check, a market study, a preliminary development budget, a physical property inspection, and a summary evaluation report. Once the feasibility analysis for a new self-storage development is underway, Cordes and Hankinson are happy to coordinate the facility's design phase, entitlement management (including setting up a plan, schedule, and budget for completion of the process of complying with zoning requirements, the land development code, and building code compliance), and organizing and managing a construction team. When a facility reaches its construction phase, Cordes and Hankinson offer an array of services to take the project from planning and design, through construction and post construction. They can deal with bid management, procurement, quality control, cost control, scheduling, and making sure the project stays within its intended scope.
For buyers who are considering purchasing existing self-storage facilities or making improvements to facilities that they already own, Summit can do an on-site property inspection in order to assess the condition of buildings and grounds. Cordes and Hankinson will also review any available maintenance records, professional reports, warranties, and management standards that are available, checking for potential hidden costs. They will present their findings in a written assessment report that includes a list of all items of concern, a budget cost analysis for any necessary remedies, a prioritized list of projects that need to be completed, copies of any applicable review documents and photographs, as needed to clarify any findings.
After a new facility has been developed, purchased, or improved, Summit will also offer managed maintenance programs. Cordes and Hankinson will work with the owner or owners to come up with a regular maintenance plan and budget, including both short-term and long-term maintenance needs. They will locate and coordinate any necessary third-party service arrangements. If necessary, they will train facility staff to implement a maintenance plan. They will also, if the owner requests it, provide ongoing consultations and follow-up inspections, to keep the maintenance program on track.
In addition to developing a business plan and scope of services for their new venture, Hankinson and Cordes have formulated their own philosophy of business, stating that "We are founded on the fundamental principle that quality should be paramount, and the philosophy that the relationship with the client should be treated as a partnership, Our company nurtures a corporate culture that prioritizes communication, client interactivity, teamwork, and creativity."