By Rick Behning, PE
The economic downturn of the past several years, while devastating to the real estate and financial markets, has simultaneously created opportunity for many industries. Rental properties are in high demand, many law fields are busier now than ever, and car mechanics are swamped with aging vehicle maintenance. One wouldn’t expect land development to remain as a viable opportunity in the current economy; however, there is still a demand for new development in some select areas.
One is self-serve storage units. These facilities are cheap to erect and maintain, and have proven to be gold mines for some investors. A recent article in the Greeley Tribune stated that one area storage facility is at nearly 100% capacity, partly due to foreclosures in the area. And folks who don’t look to be moving their stuff out anytime soon. This high demand equals opportunity for some Greeley facilities. American Self Serv Storage is building another 55,000-square-foot adjacent to their existing facility. They are banking on the demand not letting up anytime soon and are going to be ready to take advantage of the opportunity.
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