Liquidating Self-Storage at the Hughes Showroom
As the first estate sales company in Southern California to offer a Showroom in addition to estate liquidation services, liquidating self-storage units had become a huge part of our business. We talk to people every day who, after years, are finally ready, either emotionally or financially, to liquidate items in storage.
Self-storage is a relatively recent phenomenon. We knew there had been tremendous growth in the industry – anyone cognizant since 1985 has witnessed a massive shift in urban space as self-storage units took over office buildings and warehouses – but we didn’t know the extent of it.
According to the Self Storage Association (SSA), self-storage has been one of the fastest-growing sectors of the US commercial real estate industry over the last 35 years and it generated more than $22 billion in annual revenues in 2011. Need more proof?
Total self-storage rentable space is 2.3 billion square feet… an area more than three times the size of Manhattan.
One in ten US households currently rent a self-storage unit.
There is 7.3 square feet of self-storage space for every man, woman and child in the nation.
What are the financial costs of self-storage? Average costs in Pasadena are:
10’ x 30’ unit = $452/per month = $5,424 a year
5’ x 10’ unit = $102/per month = $1,224 a year
We talk to people regularly who have had units rented for five to ten years. That means that on the high-end, after ten years, they would have spent $54,240 on storage! Self-storage companies make this easy by setting up auto-withdrawal for payments.
Are you ready to free yourself from the costs of self-storage? Are you ready to free yourself from the costs of self-storage? Let our estate liquidation services help you.
[Photography of self storage facilities courtesy of Lindsay Construction/enterprises]