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Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many U.S. states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Self-storage facilities rent space on a short-term basis (often month-to-month, though options for longer-term leases are available) to individuals (usually storing household goods; nearly all jurisdictions prohibit the space from being used as a residence) or to businesses (usually storing excess inventory or archived records). [2]
The units were rented for a similar price per square foot as apartments or office space, but cost 35 to 50 percent less to build and maintain. [6] [7] A property management subsidiary called Public Storage Management Inc. was formed in 1973. [7] [9] By 1974, 20 locations had been built. [7] [8]
Baldovin Construction, which is heading up numerous developments in the Warehouse District, announced Monday that construction is starting on the Adams Street Center, a project located in the old ...
In 1989, TJX spun off their warehouse division, consisting of BJ's and now-defunct HomeClub (later known as HomeBase, then House2Home), to form Waban, Inc. In August 1997, Waban spun off BJ's to become an independent company, BJ's Wholesale Club, Inc., headquartered in Natick, Massachusetts, while Waban renamed itself to HomeBase, Inc. [ 7 ]
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