Introduction…U-Haul International is building in Tallahassee, FL its first “mobility center.” This will be a U-Haul facility that is unprecedented. Unlike anything, it has ever developed.
So, what is it? The mobility center will include:
- Self-storage space
- Truck-sharing and rental services
- Car-sharing and rental services
- Charging stations for electric vehicles
- A research and innovation incubator
- Bicycle sales and repair services
- Stations for alternative fuels
- A “smart mobility center”
- It will be an “innovative mix of transportation and business services
Where’s the profit? Looks like to this author that the services that will be profitable are the same services U-Haul provides now. Self-storage and truck rentals.
In summary…The self-storage industry is growing in two opposite directions. First, this amalgamation of services as U-Hual is developing. The second is a total unmanned kiosk run storage facility discussed in a previous issue here. Which will be successful will depend largely on the market location.
After an extensive commercial real estate career, I settled on self-storage investing for two reasons. It’s the best passive – residual income in the market today.