How would you feel about people buying rather than renting their storage units? Would you get out of the mini-storage game and sell real estate for a living? You'd better give it some thought, because the time is nigh.
Not too long ago, ISS ran a press release about RoboVault, a high-security storage facility in Ft. Lauderdale, Fla., where tenants can rent standard units or purchase vaults outright. I recently read of U Own-It facilities going up in Carmel and Noblesville, Ind., intended to serve as industrial-style storage "condos." They're being built by long-time self-storage developer Arnie Macy, who's scouting additional locations to spread this storage-ownership concept. He says he was inspired to the idea by boat and RV owners in Florida who need places to store their toys. His units range from 600 to 1,800 square feet with ceilings up to 20 feet high. Cost per unit ranges from $60,000 to $100,000.
So what do you think? Yet another competitor to take a chunk out of self-storage profit, or a sparkling business opportunity?
Your pirate word for the day:
Scallywag(or scalawag) - A pirate who loves mischief, a deceitful and unreliable scoundrel!
- Buying Self-Storage Facilities: 10 Questions to Answer During Due Diligence
- Lock-It-Up Self-Storage Expands and Renovates Bowling Green, OH, Facility
- Houle Properties Proposes Self-Storage for St. Albert, Alberta, Canada
- Mother/Son Self-Storage Team Opens River City Storage in Mason City, IA
- Developer Breaks Ground on Miami Airport Center Self Storage in Miami, FL