In this episode, we're joined by a special guest, Noah Starr, CEO of TractIQ, to break down the latest earnings from the top self-storage REITs. With all four reporting negative NOI growth for Q2, we'll get into the data and discuss why this is happening and what it means for everyone in the industry.
We dive deep into the numbers on occupancy and rent, explore the impact of development lags, and talk about the competitive advantages of big players. Noah also shares what he's hearing on the ground, from the challenges of raising capital to cities like LA softening their stance on self-storage projects.
In this episode, you'll hear about:
The shocking news that all four major self-storage REITs reported negative NOI growth.
The biggest factors behind the numbers, including pressure from rising expenses and supply growth.
A detailed look at rent trends, including the divergence between "street rates" and "achieved rates."
Why understanding the REITs is crucial for any investor, big or small.
The exciting and still-developing role of AI in self-storage operations and marketing.
How a lack of transparency in the industry can make it difficult for investors and developers to make smart decisions.
An update on why some cities are now becoming more welcoming to self-storage projects.
Tune in for an insightful, data-driven conversation with a top industry expert!
Connect with Us:
Thaddeus Campbell:
Website: https://s3.partners/
Connect with Chris Berg:
Website: https://abernatheydev.com/
Connect with Our Guest, Noah Starr:
Email: noah@tractiq.com
Website: https://tractiq.com/
