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U_Bahn t1_izsm650 wrote

Reply to comment by tco9m5 in Ex Bob Evans site on Padonia Rd to be another storage unit facility by adb1146

They are also used for land investment purposes. A number of the large storage chains have restructured themselves as land holding companies. Makes sense. Buy land cheap, get steady income from storage rentals, and then sell land when/if prices go up.

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tco9m5 t1_izsphc8 wrote

I don't doubt that at all. I'm sure there's ROI calculations that go on to see if it makes sense to go that route.

Also, I don't see the storage unit companies as evildoers or necessarily predatory here. Sure, it can be argued that they're profiting off of the misfortunes of some of their customer but they're also providing a vital service that in some cases keeps folks from losing not only their home but also losing most of their possessions. and the fact that more storage facilities are being build drives down the cost to the consumer.

I don't see the building of storage unit facilities as a problem in most cases, but I do believe that when you see so many being built so rapidly, it's a symptom and indicator of a much larger economic issue.

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