I was looking at all sorts of track plans for a possible home layout, when I joined a modular club. I discovered in the first operating session at a local mall that about the third time my train went around the loop, I was bored. Subsequent shows with bigger layouts demonstrated to me that I didn't get any less bored no matter how far around the oval the train went. After the first time the train went through the same scenery, I wanted to see something different or do something different. I started switching on another member's switching module, and discovered that I really liked switching. My home layout won't even have the possibility of a continuous run. What are your interests? The space you have outlined will make a nice area for industrial switching. As far as equipment storage goes, you can either limit your models to what fits the layout, or you could install shelves or drawers under the layout to store extra rolling stock. A layout that size would even lend itself to swapping buildings and details around to use the same layout in different eras allowing you to run steam, first generation diesels, or modern diesels as the mood struck. If you find you enjoy switching, that size will work very well in ho scale.