It’s an unfortunate trend throughout the state. Storage for car collections and large vehicles such as RVs is dwindling rapidly.
For example, in Orange County two storage facilities have recently closed — leaving 2,700 RV owners looking for space. The reason: land in many parts of Orange County is going for $2 million or more per acre.
Closer to home in Monterey, we’re facing similar issues. Vacancies for general industrial space — which could be converted to storage — are at historic lows, and virtually no new projects are in the pipeline. Land costs have risen sharply. Few water allocations are available. And where property with the necessary entitlements exists, developers are building more profitable office, R&D or other projects.
At the same time, demand for garage-type storage is accelerating. Car collectors are investing in showcase-quality vehicles, recognizing that their value can compete with other types of assets. Discretionary dollars are also being spent on motorcoaches, boats and high-performance track cars as executives gravitate toward more exciting track-driving days over golf as a way to mix business with pleasure.
Private garage space is dwindling
Another trend contributing to today’s storage challenges is that private garage space is also becoming much harder to find — especially on the highly desirable Monterey Peninsula. As land values soar, one of the first things to go is the garage in favor of larger living areas. Further, with high-density housing being used to meet growing residential demand, many condos, townhomes and apartments are being built without garages at all.
So where can you store your cars, boat or personal items?
Monterey Motorsport Park Luxury Storage
Monterey Motorsport Park has been developed to offer car collectors, track-driving enthusiasts, and others the private, luxury garage space they’ve been looking for. These are upscale garage-condos buyers will own, not rent, so they can not only solve their storage issues — but control their costs as well.
In addition, as other options for car and RV storage disappear, owners are likely to see increasing values for their garage-condos — as has already been the case at predecessor facility, Garage Unlimited of Monterey, over the past several years.
The spacious garage-condos at Monterey Motorsport Park range from less than 700 sq. ft. to around 2,600 sq. ft. sq. ft., with soaring ceilings accommodating mezzanines in every unit. These mezzanines — 13 feet above the garage floor, accessible via an interior staircase — are ideal for creating a personal office or luxury leisure space with large-screen TV, wet bar and more.
Other amenities include:
- Access-controlled entry — with video surveillance and proactive remote guarding service to safeguard cars and other valuables
- Oversized roll-up doors for easily moving vehicles into and out of your garage-condo
- A separate walk-in door for you and your guests
- Optional high-speed fiber optic Internet and cable TV access
- Accessibility for trailers and rigs in selected units
- Extras such as EV charging stations, a car wash, and compressed air and water
Ready to Open
The four buildings at Monterey Motorsport Park will be opening in phases over the next several months — with the first building slated to be ready for occupancy before year-end. So, if you’ve been hearing about Monterey Motorsport Park and waiting to buy, now’s the ideal time.
To learn more, contact one of our brokers before the holidays:
- Josh Jones, Cushman & Wakefield, Josh.Jones@cushwake.com, (831) 647-2106
- Ryan Clark, Cushman & Wakefield, Ryan.p.Clark@cushwake.com, (831) 755-1635
- Dennis Chambers, email@example.com, (408) 605-6760
- You can also get in touch with Gordon McCall, who’s part of the development team and will be relocating his business — McCall Events — to the community upon build-out, at firstname.lastname@example.org or call (831) 372-9311.
- Or you can contact Ralph Borelli at email@example.com or call (408) 521-7117.