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  1. #1
    MCD PFG is offline Junior Member
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    Default Storage Condos: What do you know?

    I'm looking for any information regarding storage condos. Facilities which house individual storage condo units large enough to house boats, RV's, cars, etc. I'd like to try and find out where the best locations for these faciltiies are (near recreational areas, near affluent communities, or on the way to destination spots). How to price the units, what sizes to build, etc. I know a lot of these facilities cater to boat and RV owners as well as contractors. I see many of these facilities are popping up all over the mid-west and west, but I'm not seeing too many of them being located on the east coast, with the exception of Florida.

    Let me know what knowledge you have of these type of facilities.

    Thanks,
    Matt

  2. #2
    Caesar Wright's Avatar
    Caesar Wright is offline Moderator
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    Default Response

    Hello Matt,

    I recently did a webinar on this very topic with Inside Self Storage. It has been archived on their website Inside Self-Storage - Webinars
    Look under past webinars and it should be listed first. I had Ted Deits the owner of the Eucalyptus at Beumont guest speak. He also has an excellent website which is Storagebiz.com - storage biz Resources and Information..
    Feel free to contact me directly with any specific questions you may have.
    You can reach me at (800) 383-4932

    Thank you,

    Caesar Wright
    President
    Mako Steel
    Caesar Wright
    President
    Mako Steel, Inc.

  3. #3
    MCD PFG is offline Junior Member
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    Default

    Thanks for your response Caesar. I did in fact sit in on that seminar and it was quite helpful as it answered the bulk of my questions. I was just looking for me geographically specific information which I suppose is most likely not readily available at this time. I did find it interesting how Ted commented on the fact that the majority of his clients were not local, nor did they reside anywhere remotely near the facility.

    I'm trying to figure how to put forth a good guess as to where your client base would come from and what their motivations are to purchase a storage condo. Is it driven by nearby recreational amenities (large bodies of water, large RV campgrounds, etc.) or by demographic makeup of the surrounding area? There's little to no storage condos on the east coast with the exception of Florida. Maybe there's not enough supporting evidence??


    -Matt

  4. #4
    StopandStore24 is offline Junior Member
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    Default Are you still considering this investment?

    I am building a self storage in a prime location in Ohio. Next to it I have an option on 4 acres of which I am considering this type of product. A partner might make sense. If interested let me know.

  5. #5
    storagebuilder is offline Junior Member
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    Default

    Sure...we may design and build storage condos....but I happen to own one as well. Although mine is in a vacation spot in Northern Michigan, I do not store an RV or boat (unless my brother-in-law happens to put his in it). I needed space to store old furniture. Since purchase, I have added a workroom and stairs to an upper "office" loft. These are great in resort areas--or course--where condos, townhouses, and apartments don't have large garages or basements. In my area businesses use them to store large equipment. And the best part...I will make money when I sell it.
    Dan Wolan
    A-Lert Building Systems

    dwolan@centurionind.com
    www.alertbuildingsystems.com
    (248) 961-3112
    (800) 210-5375

  6. #6
    alexlekas Guest

    Default

    Quote Originally Posted by MCD PFG View Post
    I'm trying to figure how to put forth a good guess as to where your client base would come from and what their motivations are to purchase a storage condo. Is it driven by nearby recreational amenities (large bodies of water, large RV campgrounds, etc.) or by demographic makeup of the surrounding area? There's little to no storage condos on the east coast with the exception of Florida. Maybe there's not enough supporting evidence??

    -Matt
    I don't know that there is a magical location. This one is in Idaho:
    In storage condos, a place for gear, play - The Boston Globe The article answers some of your questions on client motivation.

    I have also talked to folks in Indiana and Tennessee with plans to build, and if you google "storage condos", you'll find places in Florida, the Southwest, and West. It is reasonable to assume sort of recreational opportunities are close by, but they seem to vary by area - camping, fishing, water sports, etc.

    This is a relatively new development in storage and, like all new things, takes a little time to gain traction. If the innovators are proven successful, others will copy them.

  7. #7
    ted_deits is offline Junior Member
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    No No No...The web address is wrong. Try Eucalyptus at Beaumont

    The project mentioned is Eucalyptus at Beaumont in California!!

  8. #8
    ted_deits is offline Junior Member
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    Quote Originally Posted by MCD PFG View Post
    Thanks for your response Caesar. I did in fact sit in on that seminar and it was quite helpful as it answered the bulk of my questions. I was just looking for me geographically specific information which I suppose is most likely not readily available at this time. I did find it interesting how Ted commented on the fact that the majority of his clients were not local, nor did they reside anywhere remotely near the facility.

    I'm trying to figure how to put forth a good guess as to where your client base would come from and what their motivations are to purchase a storage condo. Is it driven by nearby recreational amenities (large bodies of water, large RV campgrounds, etc.) or by demographic makeup of the surrounding area? There's little to no storage condos on the east coast with the exception of Florida. Maybe there's not enough supporting evidence??


    -Matt
    Matt-

    I am the developer of Eucalyptus at Beaumont. I think you have assumed correctly that there is no real supporting evidence or any sort of demographic pattern in place to help you out in your decision. Frankly, it is a crap shoot, at best.

    I think you could sum it up in this sentence - "People Must Have a Reason to Buy A Storage Condo". What is the reason in your area? Here in California, there is an EXTREME shortage of RV storage facilities .

    I hope this helps you out a bit.

    Ted Deits

 

 
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