Luxury car warehouses are opening up as a new niche in the storage industryhttps://t.co/2JryUw3cAz#CommercialRealEstate #CRE #CREtrends
— IMS CRE (@IMS_LLC) October 22, 2018
If you’re interested in breaking into the realty field, you might want to consider an overlooked segment. According to car collectors and wealth-management advisers, car warehouses are cropping up all over the nation as more owners of luxury vehicles seek storage space for them.
Individuals from different backgrounds are claiming territory in the emerging industry. Henry Robertelli, hedge partner with Axius Holdings, is constructing a 7,000-square-foot auto garage. Collector and media entrepreneur Matt Farah is building his own warehouse as well. When finished, the 13,800-square-foot garage will have a 140-car capacity, and will target other vehicle collectors in the Los Angeles area. Farah already has a waiting list of 85 people willing to pay a monthly fee in the range of $850-$1,500 per parking space.
Buyer Dilemma: The advantages of leasing vs. purchasing
Apparently car collecting is the current top pastime for the wealthy; simply collecting wine or art has become passe. It’s true that some luxury auto owners build condos or expand their home’s garage to accommodate their high-end models. However, others prefer to store their investments in others’ garages.
Seasons fade, but icons don’t. The 1959 Cadillac Eldorado Biarritz Convertible. #TBT pic.twitter.com/nUlv3SReJ4
— Cadillac (@Cadillac) October 27, 2016
From muscle cars to sports cars, car warehouses hold a variety of auto varieties for those willing to pay. The 1959 Cadillac Eldorado Biarritz, can cost you $220,000 according to Success Story. Who wouldn’t want to protect this bad boy from the elements and car thieves?
We anticipate more news in the days ahead as the car warehouse industry continues to spread across America.
Stay Hydrated: Why topping off your vehicle’s fluids is vital
News Sources: The Times of India, SuccessStory
