This month’s newsletter has just been released! Check out the latest tips for tenants and users of commercial real estate space.
In this issue
- The Self Storage Facility Investment
- How To Find Land For Development
- Important Development Considerations For Raw Land
- Owner Requirements For Effective Management
One in ten U.S. households now rent a self-storage unit. The growing demand for self-storage in the U.S. is created by people moving (some 40 million people move each year according to U.S. Census data), and by various lifestyle transitions, such as marriage, divorce, retirement, a death in the family, etc. Self-storage companies indicate a positive trend in market demand and occupancy rate…..(more)
In major cities, looking for vacant land is difficult. A builder can look for vacant land but also must look for buildings that are in a condition that looks like they are no longer productive. A neighborhood that is in decline might be rejuvenated by tearing down a building and replacing it with a new office building, high-rise shopping center or apartments. Starting with one property might transform several blocks of a blighted area over a period of months or years. If an opportunity like this presents itself, it can be time to get options to purchase adjoining properties. An owner of an old building may be just waiting for an offer of some kind….(more)
When an investor purchases land to build on, the next step is land development and financing. “Land development” cannot be precisely defined; generally, it refers to the physical, legal, and engineering processes needed to convert raw land to land (or lots) on which buildings can be placed…..(more)
Once the owner specifies the type(s) of return desired, the mix of returns, and expected timing, the property manager can develop an appropriate management plan. Planning, with its resulting control, is the foundation of effective property management…….(more)
