Content area
Full text
Enough storage units are vacant in the Boise area to accommodate community growth at least into the near future.
That is the word from several owners, who say the southwest Idaho market remains over-supplied with self-storage units.
New facilities opened recently include Cloverdale Storage, off Cloverdale Road between Franklin Road and Interstate 84, and Apple Storage, at Boise Avenue and Apple Street. An addition to Acorn Storage was recently opened off I-84 at Meridian.
Republic Storage owner Dick Phillips said if no more units are built and the area's, growth continues at its present pace, there are enough existing storage units to meet demand for another three years.
"We're not building any more because we feel the market is overbuilt," he said, referring the area from Caldwell east to Mountain Home. The last facility Republic constructed was completed about two years ago on Maple Grove Road in west Boise.
Republic has 12 facilities from Caldwell east to Mountain Home. Occupancy is about 79 percent overall.
But to realize a minimal reasonable return on investment, the owner of a...