Condominiums offer ‘storage on steroids’Written by Zach Davis | | email@example.com
A new, high-end storage concept has come to Toledo.
Local businessmen Greg Repass and Rich Iott have partnered to create Stone Oak Business Condominiums. The warehouse-type building features 20 luxury “mancaves,” which are designed to bring its tenants’ dream spaces to reality.
“My partner Rich and I are car guys,” Repass said. “We understand the need for storage space for big boys and big toys. We are a consumer-driven society. Once we acquire the stuff, where do we put it? What if you have multiple cars, a motorcoach or a boat? What if you have a big trailer? Where do you put that? Therein lies the idea for this.
“It’s a really neat concept here and nobody has been either brave enough or stupid enough to do it. We are the first to bring this to market for sure.”
These spaces, however, are much more than just storage facilities. The mancaves, which start at 1,475 square feet, more closely resemble entertainment areas that can house anything from boats and motor homes to classic cars and hot rods in their owners’ dream spaces.
“People say ‘Is this storage?’ and I tell them ‘No, this is storage on steroids,’” Repass said. “We don’t use that word storage. This is way more than just storage. We are in this to create a concept that nobody else has created. That’s really our motivation for doing this.”
The $2.6 million facility has already sold out all 20 spaces and is planning to launch Phase II, another 20 spaces, by early fall. Repass said that they have the space to build up to six buildings onsite and could expand past even that. Repass said while half of the spaces are utilized as entertainment areas, the remaining have been used as homes for small businesses.
“We have everything from small businesses, mom and pop startups, cottage industry businesses all the way up to multimillionaires and their private car collections and everything in between,” Repass said.
Selco Industries, one of the biggest companies to operate out of the mancaves, is a national manufacturing company that specializes in office filing products. Among the businesses it works with are Office Depot, Office Max and Staples.
Patsy Thompson Designs is another company utilizing the mancaves space. The quilting supplies company began when Patsy began buying supplies in bulk for her hobby and selling the remainder on eBay. That spawned a full-fledged company, which includes employees running business operations out of the space.
Virtual office spaces also exist in the complex. In one example that Repass featured, the mancave hosted 10 individually-leased offices, two restrooms and even a conference room for client visits.
Some of the other businesses utilizing the mancaves include an overhead sprinkler company and a construction company. These small companies were important to Repass, who was the owner of Precision Motors until his retirement.
“I’m a small-business guy and have been in this town my whole life,” Repass said. “For a little guy, especially a startup, to buy any real estate anywhere around here and build a new building is impossible. You can’t afford it. However, because we share the same economies of each other, it makes it affordable to come on board here and actually have ownership.”
Each mancave can be leased or bought and comes standard with air conditioning, heat, cable and high-speed Internet. Repass can cater each space to its owners’ needs, bringing anything they can imagine to life.
All the mancaves also feature a “loft,” which Repass said came from a childhood wish for a tree house.
“I wanted a tree fort and I never got my tree fort,” Repass said. “The rich kid down the road had a tree fort. I never got up in his and now I’ve got my own tree fort. That’s what the loft is all about, we call that the bonus room, that’s the tree fort.”
Repass is especially proud of how the company has remained local in all forms. The construction of the building brought 200 jobs to the area and now 50 people work out of the mancaves.
“Quite frankly we could afford to live and build wherever we want,” Repass said. “We choose to live and invest in Northwest Ohio and it was important to us that we used all Northwest Ohio skilled labor and products from the area to attract local companies.”
For more information on mancaves, call Repass at (419) 865-6500 or visit www.MancaveCondos.com.