AUGUSTA DEMO AND STORAGE The new owner of a small Galleria-area office building directly across the street from the parking garage for San Felipe Plaza plans to tear down the 2-story 1977 structure, which suffered a roof collapse and $2.7 million worth of damage from Hurricane Ike. “[Seller Robert] Clay is under the impression that a self-storage facility will be built there. In fact, four parties interested in buying the site wanted to build development storage units there, he says. [Hasad Development’s Sam] Amber, the buyer, has developed several ProGuard Self Storage locations around town. However, a company spokesman in Houston would not comment on future plans for the nearly one-acre site. Based on buyer interest, Clay concludes that, ‘This location is a perfect private mini-storage location.’” [Houston Business Journal]
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That’s awfully expensive real estate for storage.
Self-storage buildings are very profitable. There are plenty of examples of these facilities on expensive real estate: Washington Ave near Sawyer, San Felipe inside the Loop at the Railroad, next door to Teala’s.
location for those like me: http://sanfelipeplazahouston.com/location.aspx
Very pricey land. None of those examples mentioned have proven to be profitable yet. They will need to push those rents up.
@Jeromy: re the storage buildings on Washington –
Yeah I couldna’ believe they would put something like that on that beautiful property that backs up to the cemetery. Would have been nice to see an interesting housing development there.
Please, not more storage units! If you use something little enough that you can put it in a storage unit then you no longer need it, thats what ebay is for.