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Business Observer Friday, Jun. 15, 2018 5 months ago

Pricey storage suites for expensive toys selling fast

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Island Storage Suites provides men — and their wives — what they want.

FORT MYERS — Executive men want space to keep their prized possessions and some space to call their own. Their wives just want the garages back. And, if the difference between men and boys is the price of their toys, so, too, must be the style in which they keep them. 

Island Storage Suites are climate-controlled for safe storage of prized possessions.

That’s the formula for success as early sales of Island Storage Suites have far exceeded expectations, according to the developer of the deluxe man cave facility at 10950 Old South Way in Fort Myers.

Starting at $199,900 for a 1,375-square-foot shell and $229,900 for 1,650 square feet, the 24 units in two buildings of garage-style suites that comprise Phase 1 of the project have been sold before the siding goes up. 

The developer, Scott Allan of Allan Development Group, expected to have perhaps 12 units in the first phase sold upon completion of the buildings. But while the hot sales pace is somewhat of a surprise, it's more validation of the lucrative market he targets. "One of my buyers is financing. Everybody else is paying cash,” Allan says.

The suites are designed for storage of toys such as exotic and vintage automobiles, recreational vehicles, boats and recreational watercraft, sports memorabilia or personal collections. Mezzanine spaces can be added at an additional cost, and the whole space can be designed for entertainment and relaxation. 

Island Storage Suites are plumbed and wired for kitchens and bathrooms.

Amenities include a high-pressure wash bay, commercial-grade vacuum system, RV and boat flush, surveillance cameras and entry gate. Interiors can be customized either by the developer or by a contractor of the owner’s choice. Although large enough to live in, zoning restrictions prevent them being used as residences. 

The costliest planned improvements to date, Allan says, will cost about $200,000, a minimum $400,000 investment.

All the buyers are men — current or retired top executives, seasonal and full-time residents — but their wives have been actively involved in the buying process, says Allan.

Like the first phase, Phase 2 will comprise 12 units in each of two buildings. Construction will begin this summer, with completion scheduled by the end of the year. And also like the first phase, Allan expects sales to be brisk.

“We had very high interest from buyers during our pre-construction sales launch,” says Allan. “Many of them are seasonal and said they will come back when they can see something. Now when they come back in October they will see Phase 1 sold out.”

Island Storage Suites is designed to accommodate large recreational vehicles and boat trailers.

 

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