From Idle Space to $1.1M: How Jamestown Boosted Building Value with Storage

CASE STUDY

From Idle Space to $1.1M: How Jamestown Boosted Building Value with Storage

About us

At a Glance

Property: 8 Tremont St / 37 Court Square, Boston

Partner: Jamestown

Space: 2,000 sq. ft. overflow storage → 40 self-storage units (4x7 ft to 9x9 ft)

Highlights: $32 psf/year | 90% occupancy in 1 month | $1.1M in building value | Covered by Multi-Housing News & Yahoo Finance

THE CHALLENGE

At 18 Tremont Street, a 12-story historic office tower in downtown Boston, 2,000 sq. ft. sat idle for years. The area was used only for overflow storage by property management and excluded from the rent roll. It generated no income but still carried taxes and maintenance costs. In one of Boston’s busiest districts, the space represented lost potential every month it went unused.

SOLUTION

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Jamestown partnered with Stuf to repurpose the underused area as a modern storage facility. No major renovations were required. Within weeks, the 2,000 sq. ft. space became 40 secure, padlocked units, sized from 4x7 ft to 9x9 ft.

The site is steps from City Hall, the Financial District, and several universities, making it useful to residents, students, and small businesses. Stuf provided a tech-enabled, turnkey offering that required minimal involvement from Jamestown:

IMPLEMENTATION

Execution focused on speed, low disruption, and cost control.

Scope: Convert 2,000 sq. ft. overflow area to 40 padlocked units, minimal structural work.
Design & fit: Install modular units, update lighting, add signage and tenant-facing branding.
Security & tech: Deploy access control, sensors, and secure monitoring. Integrate mobile booking into Stuf’s platform.
Operations: Stuf took over marketing, reservations, move-ins, billing, and customer service.
Timeline: Site buildout and systems installation completed in a matter of weeks; facility opened March 2023.
Landlord involvement: Jamestown provided access and lease terms. Stuf covered execution and daily management, avoiding major capital expenditure for the owner.

IMPACT BY THE NUMBERS

PARTNER PERSPECTIVE

"With Stuf Storage, we can activate underutilized space for productive use. It creates a new revenue stream for the property while also providing a new amenity for the community."

— Dana Griffin, Director of Asset Management and Development & Construction, Jamestown

THE TAKEAWAY

A space that was once an operational closet now creates measurable property value and tenant benefit. For Jamestown, the project delivered new recurring revenue, stronger asset performance, and a low-friction model that can be applied elsewhere in the portfolio.

Our national network

We're operating in 7 markets, bringing better storage closer to people and businesses.

What our customers say

The Swig Company:

We look at it also as a community benefit. There's a high-rise apartment complex right across the street, there's a residential neighborhood behind us, storage isn't always easy to get to in these kinds of neighborhoods....so we see it as a win-win for everybody." - Cory Kristoff, Executive Vice President of Asset Management and Director of Leasing at The Swig Company

RXR

470 Vanderbilt is minutes away from Manhattan, creating the perfect hub for a self-storage facility in addition to providing a convenient service for our neighbors at 475 Clermont. We are proud to partner with a brand like Stuf who has modernized the storage experience." - William Elder, Executive Vice President and Managing Director of New York City Leasing at RXR

Jamestown

With Stuf Storage, we can activate underutilized space for productive use. It creates a new revenue stream for the property while also providing a new amenity for the community. - Dana Griffin, Director of Asset Management and Development & Construction at Jamestown.