Real Estate Underground
Real Estate Underground
Ed Mathews
Dead Retail, Live Returns with Neil Henderson
37 minutes Posted Mar 17, 2026 at 4:00 pm.
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Neil Henderson is a general partner and Director of Investor Relations at Nomad Capital, a Wilmington, NC-based private equity firm with a twist on self-storage: they buy vacant big-box retail buildings and convert them into climate-controlled storage facilities. The numbers behind their model are hard to ignore. Ground-up self-storage construction runs $120-130 per square foot and takes nearly three years. Nomad's conversions come in at $60-65 per square foot, acquisition to occupancy in 12...