Goodbye Macy’s, hello self-storage. Long considered anchors of the shopping mall, many department stores are undergoing a long, painful death. That has left mall owners scrambling to find suitable tenants to fill the large empty footprints left behind. Enter self-storage. While retail property overall has been hitting the skids, the self-storage industry as been ascendant  and…

The self-storage industry can expect a soft landing from the current surge of development activity, according to Dean Jernigan, CEO of the publicly-traded investment REIT Jernigan Capital. Following the company’s third quarter earnings call, Jernigan took to Twitter to share additional views on the current state of self-storage development and supply, stating that “no oversupply…

Public Storage continues to grapple with decelerating same-store revenue growth as it faces slower rental growth and declining occupancy rates brought on by record-levels of new self-storage development. The company saw same-store revenue grow 2.4 percent during the third quarter of 2017, a slowdown from 5.1 percent same-store revenue growth the same quarter last year. The quarter marks…