Introduction…Renting rooms with no lights, toilets, showers, or kitchens appears not to be the most exciting. But, when you look at the dynamics of the Self-Storage industry’s growth today, it may be the most exciting of all the real estate market segments.
I attended a networking group in Colleyville, Texas hosted by a real estate broker. She recommended that if you were planning on selling your house in the near future and needed to put extra stuff in storage, then you better lease the storage unit right away because it might not be available when the you need it.
Here are just a few headlines from today’s Inside Self-Storage news: Metro Storage To Build New Self-Storage Facility in Wood Ridge, NJ
- Metro Storage To Build New Self-Storage Facility in Wood Ridge, NJ
- Firehouse Self Storage Development Moves Forward In Longmont, CO
- Self-Storage Expands in Plano, TX
- StorageVault Acquires 3 Self-Storage Facilities In Canada for $6.7M
- Lexington Road Self-Storage Planned for Former Piggly Wiggly Site in Athens, GA
- UHaul Transforms Abandoned Dairy to Self-Storage in Sioux Falls, SD
Why all the excitement in Self-Storage today? Most facilities are nearly 100% leased with increasing rental rates and when new properties are opened, lease-up is at all time record speed.
The demand for new Self-Storage is so strong, that it is driving developers to look for existing commercial or industrial buildings to convert.
In conclusion…One of my personal reasons why Self-Storage is so exciting is that it may be the easiest of all types of real estate to manage and lease. This is a quality of life choice to participate in Self-Storage ownership today.