In 2018, the biggest lesson we have learned is that not all markets and self-storage operators are created equal. We have seen new deliveries continue to push down rental rates on a national level, but revenue growth remains positive. New development continues to be highest in markets with strong employment growth which leads to outsized population growth. As I have traveled the country attending self-storage meetings and touring self-storage projects, I have noticed some common themes; overall everyone is happy, they have good jobs, the economy is growing, self-storage is still a desired asset class and for now life is good. Below I have noted four key positives and negatives that we have learned about the current self-storage market:
XI-2018: What Have We Learned in 2018?
