While the industry has faced heightened uncertainty during the course of the pandemic, self-storage, as well as the multifamily and industrial sectors, rose to become some of the preferred commercial real estate property types for investors.
With more employees shifting to work-from-home or hybrid setups, accelerated migration trends, and organizations choosing larger storage units for logistics and distribution, the industry was able to maximize on changes driven by the global health crisis.
While rent growth in the storage industry has moderated in recent months, many markets in the Sun Belt continued to register double-digit rent increases. Because of this consistent performance, developers seek to add new supply to these specific markets despite slow development activity pre-pandemic.
For more information about the top five emerging self-storage markets across the U.S., click the link below.
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