Self Storage Rents Continue Recovery Despite COVID-19

While street-rate rents were down 0.9 percent over the past 12 months, all the top markets saw positive rent performance month-over-month.

Despite severe economic distress caused by the global health crisis, the self storage sector continued to hold steady in August. Over the past 12 months, street-rate rents declined 0.9 percent for the average 10×10 non-climate-controlled and 3 percent for climate-controlled units of similar size. On a month-over-month basis, national rates grew 0.9 percent for the standard 10×10 non-climate-controlled and 0.8 percent for climate-controlled units of the same size. All the top markets saw positive or flat rent performance month-over-month.

RSK: If you own warehousing/distribution and storage you are in good shape these days. If you have a property that can be repurposed into storage, such as retail or office....go for it.

- - Volume: 8 - WEEK: 40 Date: 9/29/2020 8:18:39 AM -