Apr
16

Investor Interest in Self Storage Remains High

By
Self Storage Tucson Arizona

Self Storage Tucson Arizona

Institutions continue to invest in self-storage assets, paying high prices for properties and partnering on new developments.

“There’s been tremendous activity from high-end, institutional-level capital that is entering or attempting to enter the space,” says Brian Somoza, managing director with JLL Capital Markets. “That’s been driving a fair amount of acquisitions.”

Developers plan to open new self-storage properties totaling millions of square feet in 2018. New customers are expected to rent up most of this new space, keeping average occupancy rates high and property incomes strong. With fundamentally strong demand, institutional investors keep paying high prices for properties even though buyers may take longer to close deals and are buying less than they did in 2016.

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Categories : National News

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