Durham Development Watchlist - August 2019

Original Post: https://www.buildingbullcity.com/2019/08/durham-development-watchlist-august-2019.html

re: your question about self-storage,

From what I've heard, self-storage is a common investment strategy since you can usually recoup the investment after 2 years. Build a cheap building that generates an income stream, you own the land. Sell in a few years for redevelopment. I think it's why these tend to pop in areas that always look like they'll be part of the next wave of valuable acquisitions.

That makes sense. The building that is being built is multi-story though - not just a series of garage-like rooms.

I suppose I thought that a higher/better use was already viable there and there would be more demand for that land, but perhaps I am a few years too optimistic!