10 Feb 2020
Australian co-founders Bryon Smith and Tim Manson have chosen the beautiful Lake Travis in Austin Texas as the preliminary location for their brand new XSpace building concept - a multi-use condominium facility designed for personal storage, business, and self storage use.
The XSpace project is a hybrid of Manson's family business back in Sydney Australia, combining warehouse style B2B storage with traditional self storage, designed to fit the needs of the modern American consumer.
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The main difference between traditional storage and what Manson and Smith have created is that individual units are for sale - not for rent. Buyers can use the space for personal enterprise operations such as hobbies, storing and working on cars, housing business materials, creating gaming center or art studio etc. ...
That thrusts them into a category a bit similar to that of a WeWork.
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Manson and Smith were drawn to Austin Texas because of its diversely attractive demographics, including higher-than-average household incomes;
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Manson doesn’t view the XSpace concept as a threat to traditional self storage, but instead...
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Manson and Smith hope to someday enlarge the XSpace platform to between 50 and 100 locations across the U.S.
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XSpace seeks to raise about $50 million from investors and $100 million in debt next year to fuel its growth in Texas.
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