Wayne Johnson Wayne Johnson

Las Vegas has had tremendous population and job growth in the last 12 months, and the growth has fueled new self-storage construction activity. However, the demand may not be strong enough to absorb the new supply—and self-storage investors should proceed with caution when investing in the market.

“Through the years, we have generally done well in Las Vegas when we have done our homework and drilled into sites where we have liked the characteristics,” Wayne Johnson, chief investment office at Strategic Storage Growth Trust, tells GlobeSt.com. “Las Vegas went into an overbuilding mode of residential and then hit a tough time five or six years ago. Since that time the residential market has recovered. So, we like the market, like any market that is growing and has an urban setting, but we have to be very careful because there is a lot of self-storage development activity. People are building a lot. There is opportunity as the Las Vegas market grows, but it is a time to be cautious as people are building a little bit close to each other in some situations.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.