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chi-selfstoragephotos (2) An Extra Space storage facility at 5828 Howard St., Skokie, IL.

CHICAGO—Not long ago, revenue growth for the self-storage sector was off the charts. That led to a robust level of acquisitions, especially by the five major public REITs that lead the industry. That growth has leveled off, but strong demand throughout self-storage continues to fuel expansion, as well as attract new private equity into the space. Furthermore, after a relatively quiet period, the public REITs are most likely gearing up for another round of acquisitions in the near future.

Chicago-based MJ Partners, a self-storage firm, just published its latest analysis of the sector, and found that in the second quarter the REITs, including Public Storage and Extra Space Storage, generated same-store revenue growth ranging from 1.5% to 4.1%. Although these numbers once ranged from around seven to nearly ten percent, experts say the present rates are satisfying.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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