COMMENT OF THE DAY: FOLLOW THE MINI STORAGE “Mini Storage facilities are almost always limited partnerships designed to last 7-10 years and put on strategically poised land the developers/LLP’s have determined will increase in value. The facilities are generally inexpensive to build and maintain and are easy to demo once the property has gained enough value to where it is sold for development. The area all along 34th street is just not ready for redevelopment yet. It’s currently a dump. Additional years of creeping development from the Northern Heights will be required to eventually turn the 34th St. blight into the redevelopment gem many hope for.” [CK, commenting on What They’re Doing to Food Land on Ella]
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That’s probably one of the most common sense and insightful comments on Swamplot!
I dare you to show me EVEN ONE mini-storage facility in the entire state of Texas that has been torn down less than 10 years after it was built to make way for a newer development.
This is not how the mini-storage business works.
Interesting… Hey, I never thought about it before, but it is a good idea.
The storage place I use – and the ones people I know use – have been around a long time. But maybe we just frequent areas that never rise in value…
“Almost always” is one of my favorite terms. It means almost nothing.
Yes, I have a (small) interest in one of these things in Irving, Texas, designed in precisely that manner for that purpose – in 1984.
Apparently we are still “poised” for the future.
The self-storage industry in this country is worth over $20 Billion a year in revenues and that there are over 46,500 facilities in existence with a total combined area of 2.21 Billion sq.ft. Self-storage is almost entirely a US phenomenon. There are only 12,000 facilities elsewhere in the world and 3,000 of those are in Canada. This all begs the question, “Why on earth do we store so much more crap than anyone else?”.
Because we HAVE so much more crap than anyone else. It comes with being a rich society.
That, and we’re all a bunch of packrats. For something to end up in a landfill, it either has to be disposable, beyond obsolescent, or have belonged to someone with no friends and the total inability to donate it to Goodwill.