Absolutely. I can think of a few storage units that are in prime real estate locations that make no sense--like right across the street from Oracle Park in San Francisco. Has to be some of the most expensive real estate in the entire city/state and it's being used for storage units...
How about in the heart of San Francisco at Otis and 13th? Then again, the Walgreens at 16th st Bart is still sitting empty, as well as the burger king next door to it, so there's something fucked with incentives and regulations and zoning that means we're not making use of some of the most lucrative real estate in a highly desirable market. Calle 11 on 11th is another that's sitting unused for unknown reasons.