IRVINE, CA—Capital investors chasing the historical returns of the self-storage sector have prompted numerous new entrants into the industry that are forming teams to build and buy the product, Westport Properties' Ben Hall tells GlobeSt.com. As we recently reported, Hall has joined the firm as VP of acquisitions to help the company grow its East Coast portfolio. We spoke with him about trends in the sector, Westport's strategy for acquisition and what investors should look out for at this point in the cycle.
GlobeSt.com: What trends are you noticing in the self-storage market?
Hall: From a buyer's perspective, the marketplace is extremely competitive right now. There have been numerous new entrants into the industry that are forming teams to build and buy self-storage. This is being fueled in large part by capital investors chasing the historical returns of the sector. I believe this trend will continue as the risk adjusted return of self-storage continues to be greater than other commercial real estate sectors. The diversification the large tenant bases provide and low capital investments are essentially unrivaled by any other property types.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
