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http://en.wikipedia.org/wiki/Outer_Space_Treaty
Also, it would be very difficult in practice to precisely and unequivocally define a specific area of empty interplanetary or interstellar space.
The title is lame. He didn't get rich selling empty space. He got rich selling what's enclosing that empty space.
You could call undeveloped, beach-front property empty space too, but it would be disingenuous.
Coincidentally, this is something I have researched just last week for my area. I would love to store boxes upon boxes of things that I will need in another two years (eg. baby clothes), will sell eventually, or plain don't want around[0]. Unfortunately, I have come to the conclusion that the concept of self-storage presented here, quite similar in spirit to my local self-storage providers (henceforth: SSPs), is not…
This article misses the entire point of the self storage game, in that it's all about real estate. I'm not sure of the structure they have over in the UK but I'm quite sure it's the same type of thing, considering that land over there is much more valuable. Here in the US you'll find a vast majority of the land used for self-storage is owned by either investment firms specializing in commercial/self-storage real esta…
I'd be curious where you are getting that narrative from. It differs from what I am familiar with for sure in terms of knowledge of this industry. Not that that's not the play of some REIT's (or what they say they are doing but not really doing) of course but I wonder how many of the locations fall into that category vs. just "after a certain point the money essentially prints itself". Which sounds pretty good. [1] (…
Self storage buildings around here are just cheaply built steel buildings. They are easy to dismantle.
Earlier quoted context omitted.
I'd be curious where you are getting that narrative from. It differs from what I am familiar with for sure in terms of knowledge of this industry. Not that that's not the play of some REIT's (or what they say they are doing but not really doing) of course but I wonder how many of the locations fall into that category vs. just "after a certain point the money essentially prints itself". Which sounds pretty good. [1] (…
I've seen one self storage facility in my town removed in favor of a commercial medical plaza recently. Self storage buildings around here are just cheaply built steel buildings. They are easy to dismantle.
But then there are these examples which seem highly unlikely as the investment play involved. Browse the links on this (a typical larger storage company site) and you will see nobody is putting up a building multi story (with elevators) and hundreds of tenants with the intent of holding it to tear down. Not that like anything it couldn't be torn down if the right opportunity came along.
http://ir.extraspace.com/phoenix.zhtml?c=180054&p=irol-irhom...
But hard to believe that is actually the business model they are relying on although it could of course be a future upside.
Earlier quoted context omitted.
It might now seem that way, but when you can put those things into a second hand shop for $1-$5 a piece someone's DVD, or CD collection can become quite valuable when its abandoned. Some people did/do store hundreds of cd's, dvds, and the like. A unit could have a thousand dollars(in real secondhand market value) of merch very easily.
Do CD's/DVD's not have this value anymore? I could CD's being phased out, but DVD's are still entrenched. Maybe with online streaming (Netflix) DVD's too are going away? I would think this would be a lagging indicator though as I can see many storing their DVD's now that streaming is an option.
This article misses the entire point of the self storage game, in that it's all about real estate. I'm not sure of the structure they have over in the UK but I'm quite sure it's the same type of thing, considering that land over there is much more valuable. Here in the US you'll find a vast majority of the land used for self-storage is owned by either investment firms specializing in commercial/self-storage real esta…
I'd be curious where you are getting that narrative from. It differs from what I am familiar with for sure in terms of knowledge of this industry. Not that that's not the play of some REIT's (or what they say they are doing but not really doing) of course but I wonder how many of the locations fall into that category vs. just "after a certain point the money essentially prints itself". Which sounds pretty good. [1] (…
In the meantime, it would be great to have the property throw off some free cash flow, so developers build businesses on the property that involve highly generic structures that are easy to build (low investment) and easy to demolish - otherwise, the cost of demolition for any prospective buyer will reduce the value they are willing to pay for the land.
Common businesses for this purpose are parking lots/garages and storage. When you see those, it's pretty safe to assume the owner is trying to maintain as much option value as possible in the property.
Once you build a specialized structure, you lose option value on the property.