It doesn't look good for new facilities still in the planning stages. Current stores may enjoy a "monopolist-like advantage in setting rental prices." Read here for an update from SpareFoot about the looming zoning changes in NY.
We had a store in Plantation, Florida that was pretty outdated as it was one of the oldest in town BUT because the city refused to give permits to any new storage facilities the few which were up and going got to have some pretty high prices compared to nearby cities.
The discussion on self-storage vs manufacturing in New York City continues... Councilman sees win-win opportunity: Read about it here from Real Estate Weekly
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The market says "yes, we need more of a certain industry (self-storage) here--there is unmet demand."
The central planners say "we don't care, we want more manufacturing jobs--that's what WE demand."
We'll see how this turns out.
How many people does one self storage facility employ?
Current stores may enjoy a "monopolist-like advantage in setting rental prices."
Read here for an update from SpareFoot about the looming zoning changes in NY.
Councilman sees win-win opportunity: Read about it here from Real Estate Weekly
NYC’s storage industry has "crate" expectations [Article]