Quote:
Originally Posted by officedweller
In terms of blank walls, self-storage facilities are usually placeholders for future development. (ie Maple leaf Storage (not this site) is owned by Pinnacle, isn't it?)
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I believe it's owned by Larco. That would suggest it's a business that's a profit centre within an industrial context, rather than a holding operation. I don't think many if any of the self-storage operations in Vancouver are placeholders; they're relatively inexpensive to construct (often pre-formed off-site concrete walls with a steel subframe) and given the amount of 'stuff' people accumulate, and the limited storage in condos, they seem to have a long-term future. Unlike industrial buildings in the past, they're also usually built to the full allowed FSR - in this case 3.0. (That's changing with the multi-storey industrial being built in the same zones in the past couple of years).
They are also used as regional warehouses for small scale commercial businesses who use local reps to shelf-fill in stores. And there were several Downtown that have been redeveloped (a large one on Seymour replaced by The Charleson, and another by Vancouver House) and there a couple more likely to be replaced or repurposed (on Beatty, for example), so it's not all net new space, but rather adding space in locations where it can remain undisturbed for many years.