Big demand and tightening supply for self-storage businesses after Harvey

Sue_C

Self-storage lockers are filling up as Hurricane Harvey victims seek a place for their belongings while they rebuild or prepare to move.
The market is further constrained because some storage facilities suffered flood damage as well.

"Before the storm, there just wasn't that much product on the shelf to begin with," said Aaron Swerdlin, a vice chairman with commercial real estate firm Newmark Knight Frank who specializes in self-storage properties.

The surge in demand could last beyond the three- to eight-month burst in business that typically follows a natural disaster. It depends on how long it will take people to fix their homes or whether they downsize to smaller places and maintain their storage units for the long haul. [Read more from the Houston Chronicle]