Developer David Gandolfo plans to open condominium self-storage in Palm Springs, Calif., this summer. Built on 4.5 acres at 3690 Airport Center Drive, MonStore Garages will comprise 45 units ranging from 650 to 5,400 square feet, according to its website. They’ll be designed for the storage of boats, collectible cars and RVs.
Sold individually, each unit will include an aircraft-hangar door, electricity, fire sprinklers and Internet connectivity. Property features include 24-hour access, access-controlled entry and video cameras. Tenants will be able to view security footage of their unit via a smartphone app. The condos will be priced from $97,250 to $750,000.
“The concept of individual garage ownership hits home with many people such as myself who have large RVs or car collections. Finding large, enclosed storage, short of buying or renting a warehouse, has been a challenge,” Gandolfo said, “Traditional self-storage typically does not make available large, enclosed spaces, since the return on investment is not as great as with the smaller 8-by-10 common storage unit. Garage condominiums fills the gap between self-storage and full warehouses.”
A similar project, Eucalyptus at Beaumont Storage Condominiums, which opened in 2009 in Beaumont, Calif., is sold out and has a waiting list, according to owner Ted Deits, who’s working with Gandolfo on the Palm Springs project. “The pace of sales, and the value appreciation of these garage condominiums have been spectacular,” he said. “It made sense that Dave and I joined forces to bring another project to the desert as demand continues to grow, and clients are left wanting more.”
The first phase of the project, which included 15 units, sold out in just hours, Deits said. “Seven of the 15 pre-sales came from existing owners at Eucalyptus at Beaumont. The next sales phase will be released on June first, and we are expecting similar results.”
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