The self storage sector is cooling. It had to – after its great pandemic-induced run.
Entering 2023, Marcus & Millichap finds that most major metros reported stagnant rents and rising vacancy as demand cooled as consumers battled inflation.
Houston, Atlanta, and the Dallas-Fort Worth metroplex rank among the top metros by square footage additions, it believes. "Southern California markets are receiving comparatively scant arrivals, despite remaining historically undersupplied, given persistently limited land availability," it said.
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