Self-Storage Demand Is Booming, Generating Huge Gains For Investors
September 9, 2021 | Christie Moffat
Buoyed by elevated migration, business disruptions and life changes brought on by the coronavirus pandemic, the self-storage market enjoyed major gains in 2021 — both nationally and across Texas’ major metropolitan areas.
Occupancy and rental rates for self-storage units skyrocketed this year in what experts point to as a major turnaround for a state that used to be one of the most oversupplied in the country. And while other traditional asset classes have struggled, the gains generated by self-storage REITs are drawing the attention of institutional investors looking for an alternative place to put their money.
“As long as we’ve tracked data in the storage industry, we’ve never seen growth like this,” Yardi Matrix Editorial Director Chris Nebenzahl told Bisnow.
