As the world of storage turns, numerous niches have evolved, each revolving around different consumer needs–from traditional self-storage to records storage, business storage to wine storage and the ever-growing need for RV and boat storage. 
Put it all together and you’ve got a new model for the storage industry, a premium form that is incorporated into the up-and-soaring brand known as LuxeLocker Inc. The brand is reflected perfectly in one of the company’s newest and brightest stars, LuxeLocker of Boise, Idaho, deemed worthy of Toy Storage Nation’s Facility of the Month Award.
The facility offers pretty much anything a tenant could ask for, providing all of the above-mentioned forms of storage and more. It features every criterium of a Class A site–perimeter fencing, covered units, security gate and fully paved surfaces–in addition to extra-wide driveways, 24-hour access and security monitoring, climate-control, wash and dump stations, motion-detection lighting and power in every unit.
But there’s more, because tenants can own a little piece of the pie through the LuxeLocker brand. While they can rent units in nearly any size imaginable to fit their prized RVs and boats–from 14×36 up to 22×70–tenants have the opportunity to become investors, purchasing one or more units for their belongings and becoming third-party manager/investors themselves by renting purchased units out to their own tenant base.
In this way, units are now considered storage condos that have covenants, conditions and restrictions (CCRs) similar to condo homes, says Adam Pakes, LuxeLocker CEO. “It has the same principles as a regular condo, because somebody owns it. But whether someone decides to rent or occupy it [with their own stored items], historically,increases over time.
The Birth of a Bright Idea
The story of LuxeLocker is the origin of business genius throughout the ages: discovering a need and filling it. Adam Pakes, LuxeLocker CEO, was golfing with a friend not far from his home in Lake Havasu City, Ariz., when he expressed his frustration about not being able to find a nearby business to store his boat.
“I joked that I should just build one,” he recalls. The next day, his
friend phoned him. “He asked me if I was serious,” continues Adam. The next thing he knew, his friend put together a proposal to set the project in motion. “It’s like we were all standing in the middle of the street and there was a lottery ticket on the ground, so we picked it up.”
The year was 2015. Over the next two years, Adam and Pete built another location in Lake Havasu. In 2018, an opportunity came about to build a 3rd location; that’s when the Pakes’ brothers decided to brand it Luxelocker.
Adam’s launch into the storage industry wasn’t quite as whimsical as it may seem. He had already flexed his muscles as an entrepreneur, experiencing commendable success in the process. In 2008, along with his brother, Pete, Adam co-founded Summerlin Asset Management, where he was responsible for all acquisition and disposition of defaulted mortgage-backed securities. In a four-year period, he grew the portfolio to $50 million in assets.
Simultaneous to developing the first LuxeLocker site (in 2016), Adam recognized opportunities to create two sister companies for Summerlin, one for title and escrow, the other for mortgage origination. Both new ventures have grown by 75%, year over year. In 2020, Adam shelved his career with Summerlin’s triad of companies, which are currently managed by a close friend to focus entirely on LuxeLocker, which was mimicking the trajectory of his past accomplishments.
“We built our first facility [in Lake Havasu City] for selfish reasons, but it did so well, we kept going,” he says, explaining that seven LuxeLockers are completed, another seven are in the construction phase and another 10 are in the pipeline.
The concept of condo storage was not new to Lake Havasu, according to Adam, who says RV and boat storage facilities there had latched onto the concept in the 1980s. “It’s phenomenal how a town this small has so much storage. One-in-five homes have an RV garage, and yet, there’s still that much need for storage.”
The Pakes have learned by experience what their customers want, and it’s clear that the condo formula is working. One explanation for this, says Adam, is that condo units have the space to arrange belongings in such a way that renter/owners don’t have to unpack the whole unit to get to something packed in the back.
“Deeper units give them better access, which is just one of the reasons this is catching on. This improves the user experience, and for some, that means they don’t need multiple units. Now they have one door to access their stuff instead of three.”
Sharing Is Caring
Once the Pakes had finished their first facility, they took their brand elsewhere, stumbling a bit with planning and zoning departments in other cities, which weren’t as accustomed to the storage condo concept. “It was really hard to even articulate what an RV and boat storage condo is,” says Adam. “It’s not inhabitable; we basically sell large rectangles full of air.”
Nonetheless, the concept is catching on, allowing the Pakes brothers to spread their wings–and the LuxeLocker brand–throughout Arizona, into Nevada, New Mexico, Idaho, Washington, Texas, and Colorado with no intentions of slowing down.
“It’s really a simple concept that is underserved and in high demand.” Adam states, before adding that he is blessed beyond compare to share the business with his brother as well as 13 other colleagues–all of whom he both respects and admires.
“I like the simplicity and utility of the storage business,” he begins. “We’re not building rockets or curing cancer, but we’re providing solutions to a lifestyle.”
Moreover, “what I enjoy most is that I feel like I work for everyone else. I get to help them grow themselves, to build a bigger skillset and a bigger career,” he concludes. “I really don’t do a lot of heavy lifting around here. They are the ones with the real talent.”
To learn more about LuxeLocker, visit the company’s website.
Stake your claim in this booming industry!
To learn more about developing, operating and investing in RV and boat storage, register for the upcoming Toy Storage Nation Executive RV and Boat Storage Workshop in Fort Myers, Fla., Dec. 1, 2023. This exclusive, one-day workshop provides the A-to-Z compendium of RV and boat storage knowledge you need to accelerate your success in this rapidly growing, prosperous industry. Register today.
