Street rates are down for self-storage properties. Will a slowdown in new deliveries provide relief? Yardi Matrix reports that street rates dropped in about 75 percent of the markets it tracks, according to its December National Self Storage Report. Street rates for standard 10×10 non-climate-controlled units fell 1.7 percent year-over-year in November and 3.3 percent…

red tape caught red tape caught

Elected officials in a town in western Wisconsin have put a different twist on how city governments across the U.S. are clamping down on self-storage projects. In late November, the City Council in Menomonie, WI (population 16,540) unanimously rejected a proposal to permit development of self-storage facilities with more than 200 units each. That departs…

Recent data indicates a still-healthy housing market, which should generally bode well for the self-storage industry as it looks toward 2020, although housing affordability and constrained inventory are causes for concern. The self-storage industry relies on people moving in and out of homes, often targeting new development close to new homes or apartment buildings. A…

With a new partner on the team, Columbia, SC-based Taylor/Theus Holdings Inc. aims to grow its self-storage portfolio to 40 to 50 facilities within the next three to five years through ground-up developments and acquisitions. Steve Moffat recently joined Taylor/Theus as its third partner after serving as director of real estate at Extra Space Storage….

Although new supply has tamped down rents, it isn’t deterring self-storage owners and operators from mining for new opportunities in the sector. New deliveries continue to weigh on street rates, according to Yardi Matrix, producing a 2.5 percent year-over-year decline in street rates for standard 10×10 non-climate controlled space. Still, operators and investors with a…