The self-storage story: Little glamour, but steady returns drive the market
When Falmouth native Mike Pride retired from the merchant marine after 21 years, he began his “chapter two” by investing in commercial real estate. Several years ago, F.O. Bailey Real Estate broker Thomas Gadbois introduced him to the self-storage sector, showing him a facility at 226 Gorham Road in Scarborough and another at 14 Tory Hill Drive in Buxton. “I thought, “It’s a business but not a lot of employees, so I can run it myself,’” Pride recalls. Pride bought the properties with a bit of skepticism. “I’m thinking, ‘Who puts their stuff in storage?’” he says. After...
Source: mainebiz.biz