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Located in Midtown Sacramento, the 75-unit property opened in 2021 and is 95% leased.
However, tenant requirements were unchanged for the month, suggesting the decline may be temporary.
Most rent growth came from stabilized properties aggressively pushing up rates.
The acquisition marks the firm's expansion on the West Coast and strategy to build a strong presence from San Diego to Seattle.
Post-pandemic, co-working spaces will serve work-from-home employees at larger companies.
The self-storage stocks out-performed many of the market indices in 2021, generating a total return of 65.54%.
Jon Reno, Mark Vanis and Trevor Gale join the firm as managing directors and will specialize in representing institutional owners and occupiers.
From pricing a new facility to partnering with a third party to reposition existing space as infill self-storage, technology is giving landlords options in a strong CRE sector.
SmartStop launches Strategic Storage Trust VI with a $1B IPO in a red-hot sector that achieved a return of nearly 60 percent last year.
Double-digit increases in inventory are coming for New York City, Chicago and Philadelphia.