By Jim Motavalli for Autoweek
Until fairly recently, the model for well-heeled car collectors was to maintain large private collections in their own garage or warehouse spaces, and maybe build in a small man cave for a few special friends who’d be welcome to visit.
But that model has been disrupted with the rise of the garage condo complexes, connected to a special-event-hosting member clubhouse and—sometimes—a private race track. This phenomenon, which encourages collector get-togethers that often includes exercising the classics, often adding fine wining and dining, has swept the country. New entries, plus the expansion of existing facilities, are being announced regularly.
There seems to be no limit on what wealthy collectors will pay for conveniently located top-tier memberships with luxury amenities. The Concours Club in Miami, a pioneer in the field, includes not only its own race track and gourmet dining, but a private airport close by for fly-ins.
APEX MOTOR CLUB
How much is too much? Consider this package from the Phoenix-based Apex Motor Club, which maintains two tracks that can be joined into one 4.5-mile entity. For $2 million, the money-is-no-object buyer can get the keys to a fully customized trackside condominium (with a 1,250-square feet space for five or so cars, plus a 625-foot man-cave mezzanine), a brand-new McLaren (either a 750S or a race-ready Artura Trophy EVO), 40 hours of one-on-one coaching from the pro drivers at Flying Lizard Motorsports, plus the chance to name one of the track’s corners.
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Bill Barba, Apex’s chief operating officer and chief financial officer, and Chad Meyer, the CEO, told Autoweek that the original track (in Phoenix near the Maricopa County line) opened in 2019, and the second last March. The first 48 condos were sold and occupied, and with the new track opening, another 48 are going up alongside it in four phases.
The condos start at $750,000, but some members choose to buy two and join them. There’s a helipad that gets used by members who fly from Scottsdale or other locations. Apex has partnerships with Lexus and Aston Martin, with the latter making some West Coast Valkyrie deliveries there.
Membership totals aren’t disclosed, but according to Barba, “People who have the means and the passion for these cars love the club aspects we’ve developed out here. Maybe they started in karting and went on from there. For the members who are new to racing, we have former professional drivers available as instructors.”
Finish Line Auto Club got started in 2006 when a father (Rick Principe) and son (Tony Principe) team of car-loving real-estate developers purchased and renovated a 40,000-square-foot warehouse space in Calabasas, California. They hit upon the idea of not only storing their own collector cars, but dividing the big space into condos for other enthusiasts.
FINISH LINE AUTO CLUB
The team then found a 60,000-square-foot industrial building on five acres in Westlake that became the first Finish Line. “It had the bones of what we needed, and then we created the clubhouse to go with it,” said Tony Principe. “The units are between 1,500 and 2,500 square feet, with polished concrete floors, and room for six to eight cars without a lift. It evolved from just car storage to man cave arrangements, with wet bars and big-screen TVs, where friends could be entertained. And there has been 24/7 security from the beginning.”
Rick Principe adds, “I made a lot of friends and clients in the car space, and they often wanted small buildings to store their vehicles. But there aren’t a lot of small buildings out there. We offer those investment spaces, individualized to the owners’ tastes, and include the social aspect. Collectors like to be near other collectors, and they like that we host events. It’s a country club for people who love older cars.”
FINISH LINE AUTO CLUB
Track days occur regularly, with Finish Line partnering with tracks such as Willow Springs, near Rosamond, Calif., and there are also cocktail parties, regular themed car and coffees, and organized drives to get the members together. The member app facilitates intra-club car sales.
Obviously, some of these high-rolling collectors own as many as 200 or 300 cars, and that means they rotate what’s in their condo—or own multiple units at different locations. In addition to Westlake Village, Finish Line opened a second site at Costa Mesa in Orange County. It’s on four acres near John Wayne International Airport, with 32 garages and a clubhouse. The newest Finish Line site is Calabasas, Calif., with 19 garages. And sites are under development in the Coachella Valley town of Palm Desert, Calif., and Scottsdale, Ariz.
The garage condo appeal is mainly to men, though Tony Principe says “multiple women have bought units,” and the socializing tends to be in couples.
Meanwhile, in Houston, Toy Cave Garages is offering similar luxury garage-with-mezzanine condos, 64 in total. The plans include a clubhouse, events and other amenities. An F1 racing simulator is promised. Ads emphasis the investment potential of these units, which become available in the fall of next year.
Clearly this garage condo thing, combining the ability of the wealthy to play with their toys and commune with like-minded collectors—and also get in on what could turn out to be a lucrative investment—is here to stay, and probably coming soon to a warehouse near you.
Jim Motavalli is an auto writer and author of nine books who contributes to Autoweek and Barron’s Penta. He has written two books on electric cars, Forward Drive (2000) and High Voltage (2010), and hosts the Plugging In podcast. Motavalli’s writing has appeared in the New York Times, CBS Moneywatch, Car Talk at NPR, Forbes, US News and World Report, Sierra Magazine, Audubon and many more. In his spare time, he reviews books and jazz.
