The boom in Self-storage properties over the past decade makes it one of the more intriguing investment opportunities in the real estate market. During the last ten years, the construction of self-storage facilities rose a staggering 926 percent, reflecting a relentless accumulation of personal belongings and the continuous transformation of the real estate landscape. Occupancy rates at self-storage properties are high; as consumers increasingly lean into minimalistic living and downsize their homes, the need for external storage spaces continues to rise, resulting in a boom in the self-storage property market and a trend towards consolidation within the industry.
The fundamental question is: why are self-storage properties such an attractive investment now, and what does this mean for the future of the real estate sector?
On Weaver: Beyond the Numbers, Location3, co-hosts Howard Altshuler, Partner-in-Charge, Real Estate Services, at Weaver, and Aaron Grisz, Partner, Tax Services, at Weaver, take inside this captivating world of self-storage property, discussing its surge the factors influencing its attractiveness, and its potential evolution.
The conversation in this episode revolves around three major points:
• The trend of consolidation in the self-storage industry, emphasized by recent significant mergers and acquisitions
• The factors contributing to the popularity of self-storage properties, including the lower capital outlay, a consistent demand leading to growing rental rates, and the relative ease of maintenance
• The growing interest in industrial outdoor storage, its challenges, and potential, especially in the context of last-mile distribution centers
This episode shines a light on the self-storage property market and explores how this shift may impact other aspects of the real estate sector and what people can anticipate moving forward.
Howard Altshuler is the Partner-in-Charge of Real Estate Services at Weaver. He is a renowned figure in the industry with vast experience managing various real estate and construction projects. Aaron Grisz is a Partner in Tax Services at Weaver. Grisz’s deep knowledge of the real estate tax landscape and expertise provide valuable insights into the financial aspects of the industry, from tax implications to cost management. Together, Altshuler and Grisz dissect and discuss the ins and outs of the real estate industry, providing their audience with a well-rounded understanding of various topics.
