Education

Slowing Storage Supply & Generational Opportunities

I had a conversation with the nation’s largest storage developer this week. This developer has consistently built $250-$400mm of storage annually for the last eight years. This year, he expects to build $50mm. {% module_block module...

Storage in 2024

The last four years have been a whirlwind for the storage industry. A rapid acceleration of fundamentals in 2020 and 2021—driven by a considerable increase in demand for storage—was followed by a notably softer 2022 and 2023.

The Bottoming of Storage Fundamentals

Here’s what you need to know about the storage earnings calls I listened to over the last week:

Self Storage Development Opportunity of a Lifetime

The lending environment remains as tough as it has ever been in self storage.

Why the run-up in residential home prices ends differently this time

Last week, we discussed the reasons behind the near-term slowdown in demand for storage in, What's going on with storage demand?

What's going on with storage demand?

One of the best features of storage is how diverse the demand drivers are, meaning there are a lot of different reasons why people use it. Many of those reasons are largely static in nature; they happen regardless of the state of the economy.

Self Storage Acquisitions Are Heating Up

The Efficient Market Hypothesis (“EFH”) suggests that financial markets efficiently incorporate all available information into asset prices.

The Most Overused and Unreliable Self Storage Underwriting Metric

You sell air conditioners, and your boss points out the following statistics:

The Death of On-Demand Self Storage

Last month the largest on-demand storage company, Clutter, sold itself in a distressed sale to Iron Mountain for $40MM. Clutter, and its predecessors, raised $439MM over the last decade trying to disrupt the traditional storage model by offering...

Self Storage Market Update: Notes from the 2023 SSA Conference

I spent this week at the annual Self Storage Association (SSA) conference meeting with developers, vendors and other industry professionals. Here are some of the highlights: