Happy Friday friends, here’s a fun fact: Self storage may soon be coming to a mall near you.
I love this idea. Mall landlord CBL Properties and a self storage developer have formed a joint venture to construct CubeSmart-branded storage facilities on available land at the periphery of two CBL malls.
CBL contributed the land as their share of the equity in the projects. Both projects are set to open this summer.
The self-storage sector is growing faster than ever and malls should be more than willing to carve out some land to get these projects done. I expect the zoning challenges to be enormous but this is a win for the consumer and the real estate owners.
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About Beau Beach, CCIM
Beau is an elite Investment Real Estate Broker, Forbes contributor, author, investor and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Prowess IRES which specializes in selling investment real estate for the absolute highest price the market will pay…in the Milwaukee, Nashville, Chicago and South Florida markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached by phone, scheduled call or Beau@ProwessIRES.com