Ready for some good news? Never have prices been higher for self-storage properties, either in absolute dollars, per square foot, or in relation to the income they produce. Over the last year we have seen self-storage values rise dramatically. For the last several months we have been talking about how the self-storage sector will perform through the pandemic and resulting recession. Remarkably we have seen cap rates compress 10-20 basis points and values on average have risen 1.8%-3.7% in 2020! With all of the hype surrounding the self-storage sector today and a record amount of capital seeking safety and consistent yields, self-storage is once again proving to be a CORE asset due to its long-term performance history in good times and bad. Let’s review three things we have learned in 2020 that will continue to impact the opportunities in self-storage sector.