Self-storage growth slows, but the pipeline still isn’t shrinking [Article]
The steady and strong growth of self-storage is softening after years of success in the sector, market indicators show.
Self-storage has for years outperformed all other major commercial property types in terms of earnings growth and company stock performance, but self-storage companies are now actually trading at a 2 percent discount to the estimated market value of the properties they own, according to Green Street Advisors analyses cited by the Wall Street Journal.
That’s still much better than the discounts on office and mall real estate investment trusts, which are trading at 9 and 13 percent discounts, respectively. Industry leaders say the sector is just coming back down to earth, but isn’t shrinking...[Read More