Too many self storage places (West: rent, houses, construction)

[houstmom]

Why are there so many self storage places in this town (in the loop)? There are tons on Washington and more are being built.

[City Love]

1. lots of demand.
2. ex-suburban folk moving to the inner loop. they go from having lots of space and furniture, to not as much space and needing less furniture.

[CanTex]

3. No basements to store all that crap in...

[Oildog]

The energy industry is global and a lot of engineers get sent to (singapore/Russia/West Africa/Euope etc) for a 2-5 year stint. Many keep their houses here and rent them out, if they like the location and amenities. Bit I too am surprised at the number I see going up....must be a good business model if you think about it.

[westres1]

no zoning and cheap land make a great opportunity to throw up a cheap building so people can store their cheap stuff.

[Cook911411]

.....it is also a great way to make some money on land you own on relatively low overhead while you watch your land value go up.

Plus humans are crap collectors.

[chris_ut]

I've heard these places make a very good profit.

[DJboutit]

No basements is the #1 reason why you see so many self storage place

[travelguy_73]

Originally Posted by Cook911411

.....it is also a great way to make some money on land you own on relatively low overhead while you watch your land value go up.

Plus humans are crap collectors.

Bingo on both counts. The cost to build and maintain climate-controlled storage is relatively low. It's a way to make some money, or at least cover your cost, on land while letting appreciation take its course. In many areas, it is truly and highest and best use of the land for now.

[jfre81]

Originally Posted by travelguy_73

Bingo on both counts. The cost to build and maintain climate-controlled storage is relatively low. It's a way to make some money, or at least cover your cost, on land while letting appreciation take its course. In many areas, it is truly and highest and best use of the land for now.

This is a classic example of temporary construction. Throw up a storage facility, then when values have reached the point where the owner(s) can sell to a developer and make a profit, they will. A lot of these locations are ripe for future mid-high rise development. I bet a lot of these facilities won't be around in 20 years, and a lot of things will look different.

Not only that, it's putting land that would probably be vacant otherwise to use, as a tax revenue generating entity while providing a service that's in demand.