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\ \ \ TANKSHOTS (4) \ \ \

2012 October 13
by dan bertolet

In 2009, nobody wanted this dismal concrete box in the Denny Triangle area of downtown Seattle:

But by 2012 it was lovingly adorned with crisp red stripes and anointed with a new reason for existence: storing people’s stuff:

How is it possible that self storage could be the best use of an office building located one of the hottest real estate markets in the country (notice the new Amazon building in the background)?

Seattle’s current average rental rate for office is $2.33 per square foot per month. In comparison, a 4×5 storage space at Seattle Vault goes for $60/month, which is $3 per square foot. Their larger spaces rent for less per square foot, and sure, the building is a dog, but the remarkable reality seems to be that even in a high rent big city downtown, storing people’s excess junk can be economically competitive with storing screen-staring office workers. Stuff is us.


Photos by the author — click ‘em to enlarge.  This post is part of a series.