Storage Pros’ Hub
Discover original reporting and exclusive stories on the self storage and industry insights combining original data and industry insight.
Fairway America: Retail-to-Storage Repurposing Is a Great Investment
The lowering of street rates in many parts of the country might indicate that there are enough self-storage facilities already, and yet they are still being built. To find out more, we talked to a leading investment company with a special interest in this sector. As it turns out, investment in self-storage is still a great idea and it can be done most successfully if you keep your business ahead of the game, according to Fairway America.
Boston’s Self-Storage Sector Shows Signs of Strength, Despite Negative Y-O-Y Performance
Boston’s self-storage market is historically under-supplied, featuring a net market penetration of 4.5 rentable square feet per capita, lower than both the national average of 6.3 square feet per capita and the traditional benchmark of 7 square feet per capita.
The Portland Paradox: Self-Storage Construction Still Active, Despite Drop in Street Rates
The self-storage industry in the Portland metro area is following a trend that, at first sight, seems rather contradictory. While street rates for self-storage are declining, the proportion of planned and under- construction projects remains one of the highest in the nation.
Top 5 Add-Ons for Self-Storage Facilities
Over the last decade, few real estate sectors have skyrocketed like the self-storage market. The growth in this industry can be explained by increased urbanization and an improved economic outlook.
Houston Self-Storage: Does Space City Need Any More of It?
Houston is famous for space, not just NASA’s center for human spaceflight, but also the way it has tended to expand to accommodate a growing population. The same might be said for the self-storage industry in the city, which has 68.4 million square feet of space, and its self-storage footage per person ratio of more than 9.5 is one of the highest in the country, according to Yardi Matrix in July 2019. But the data also reveals that street rates on a range of self-storage unit sizes in Space City have dropped significantly on a year-over-year basis.
Top 5 Markets for New Self-Storage Construction
The self-storage industry has become one of real estate’s hotspots, mostly thanks to the growing job market and heightened demand that keeps investors busy. Whether people are buying more, or, on the contrary, are downsizing their home, they need storage facilities to keep things in order. According to the National Self-Storage Report conducted by Yardi Matrix in August 2019, the development activity intensified in about 40% of the top markets, compared to the previous month, with the number of self-storage projects under construction or in the planning stages being equivalent to 9.5% of the total current inventory. Drawn from Yardi Matrix’s national database of more than 27,000 stores, here are the top 5 hottest markets for new self-storage construction:
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