National Self-Storage

Join Us Virtually for these Self Storage Investment Insights

Coming off banner years in 2020, 2021, and 2022, self storage remains top of mind for savvy investors and developers. U.S. self-storage transaction volume grew from $6.2 billion in 2020 to $16.8 billion in 2021, an increase of 170%, far outpacing the historical average annual transaction volume of $4.4 billion from 2010-2021, according to Real Capital Analytics and CBRE Investment Management. 

The U.S. self-storage market is comprised of just over 1 billion sq. ft., 125 million sq. ft. built in the past five years, according to Yardi Matrix. New supply is expected to increase through 2028 as these hurdles begin to dissipate. Yardi Matrix is forecasting 31.7 million sq. ft. of deliveries in 2023.

Some of the topics we'll cover on this event are:

Tech Integration: Self storage facilities are increasingly incorporating technology into their operations. This includes automated access control, online rental and payment options, and even smart security systems. Technology has not only enhanced convenience for customers but also improved efficiency for operators.

Market Consolidation: The self-storage industry has been experiencing consolidation, with larger players acquiring smaller facilities. This trend has been driven by economies of scale, increased operational efficiency, and access to capital for expansion. What should we expect going into 2024?

Specialized Storage: Some operators are starting to focus on niche markets, offering specialized storage solutions such as wine storage, vehicle (Boat/RV) storage, or climate-controlled units. These specialty facilities could command higher rental rates!

Urban Storage: In urban areas, there was a growing demand for self-storage facilities due to the increasing population density. Developers are looking for creative ways to build storage facilities in smaller urban footprints.

Economic Factors: Economic conditions, including interest rates, consumer spending, and housing markets, have a significant impact on the self-storage industry. Real estate professionals need to be attuned to these factors to make informed investment decisions.

Regulatory Considerations: Regulations and zoning laws can vary significantly by location and affect the development and operation of self-storage facilities. Staying abreast of local regulations is important for real estate professionals. 
 

There is incredible opportunity in this asset class. Join Bisnow and our all-star panelists to learn about the market and how you can get involved!

Please direct any questions or concerns to Chris.Wainwright@Bisnow.com!