X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Self-storage investment in secondary markets on the West Coast will continue to thrive in 2019, with plenty of capital chasing deals—but some markets may be hitting their peak. Las Vegas and the Inland Empire will be the most active secondary markets, but Phoenix—which has been a hot market for self-storage investment—could be starting to cool off.

“I believe all three of these markets will be very, very active in 2019.  There is a plethora of capital chasing deals and these are geographies that are still of interest from an investors’ perspective,” Charles Byerly, president and CEO of US Storage Centers, tells GlobeSt.com. “With that said, as over-supply plays out in Phoenix and rates decreasing in many Phoenix markets, it will be important for developers and acquirers to do their homework on the markets and understand where supply is imminent. That will put pressure on existing assets across the greater Phoenix market.

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.