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…

Wisconsin-based Benchmark Secured Storage of Hartland LLC is ready to build a 47,000 square-foot self-storage facility in Hartland, WI near Milwaukee. Managing members Doug Hafemann and Aaron Kahle are building the facility to meet an unmet market need, according to BizTimes. Their company is raising $1.2 million from investors to construct the facility according to…