The self-storage rental market also continues to be favorable when compared to other real estate asset classes. “The rental market for self-storage has traditionally been very seasonal, ramping up in spring and tailing off after summer,” Dolan said. “We should be seeing the lowest annual rents this time of year as demand drops off, but instead we are seeing rents that resemble the peak summer months.”
Dolan links this to “sustained changes in personal and business behaviors compounded by the secular growth the sector has seen coming for the last 15 years.” Consumer spending has also been consistent during the pandemic, which creates demand for self-storage.
By the end of this year, DXD Capital will have evaluated more than 35,000 deals, according to the company website. In addition to Dolan, a previous president of Titan Development, its principals include Gary Delaney, who has developed more than 120 self-storage facilities nationwide, and Cory Sylvester, who’s also a founding principal of Union Realtime LLC, a technology-services company that specializes in self-storage development data.