CHICAGO—The self-storage industry has been consistently robust for years, with rising levels of occupancy and gains in net revenue, especially by the largest REITs, and in the second quarter this vigorous growth continued, according to a new quarterly report by MJ Partners Real Estate Services, a Chicago-based firm.
“Six months ago we thought perhaps demand was at a peak, but instead we've found that it has continued to expand,” Marc A. Boorstein, a principal of MJ Partners, tells GlobeSt.com.
MJ Partners' report focuses on the four largest REITs in the self-storage world, and what impresses Boorstein the most about the current state of the sector is that officials from the big four are unanimous in their optimism. “They are not hedging anymore; everyone is at record occupancy and that even includes the smaller private owners who, even though most have less sophisticated operations than the REITs, have still benefitted from the expansion.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
