Two developers assess a 13-acre RV and boat storage project. The market isn't saturated for differentiated offerings like covered storage, valet services, and strong security, but generic uncovered lots face rate pressure. They'd convert seven acres to covered spaces with wide aisles and separate contractor parking.
Did you see what the deal was today?
The, the look at the first one is clear operating and development activity is, is all throughout there, right? So it says here, is the market saturated? No, but here's the things you need to pay attention to. Dedicated RV and boat demand exists, but commodity storage is not a layup, right? So the project needs differentiation to avoid rate pressure. And then does the community need more RV and boat storage? Probably yes, but the right kind. What is the right kind? The kind that has covered storage, has valet, has a, you know, has a full-service, you know, cleanup, drop-off, all that stuff. Not recommended to be pure commodity uncovered RV boat storage. With 13 acres, you can make over half of that, 7 acres of it, make that all covered. With a Class A hybrid covered storage and strong security, wide aisles, and operational contractor component, you're able to split up the lot and have like contractor parking on one side, RV on the other. And then you got some good, you know, good stuff going. This is conduct a feasibility and market research. When you click on that, it comes with an automatic prompt that goes in and starts doing deep research. So we're going to let it go off and do this real quick while we go over. I'm just going to hit the start button because it's going to take a while.
So it's comical because this is what should take us weeks, if not months, to do. We're irritated that it's taking a few minutes.
