San Diego San Diego

The Southern California self-storage market is having a good year. The thriving apartment market has helped to drive self-storage demand and new construction, particularly in emerging submarkets, like the Inland Empire, which has recently seen a surge of apartment demand. While self-storage development is healthy, there isn’t any concern that the new supply is outpacing demand.

“I wouldn’t characterize self-storage as an easy asset class to overbuild.  While there are some parts of the country that are likely to see some potential over-supply, Southern California is experiencing fairly low levels of new supply compared to other parts of the country,” Greg Wells, managing director of the self storage advisory group at Cushman & Wakefield, tells GlobeSt.com. “This is due to several factors; a very difficult entitlement and approval process, high land costs and very competitive development market with strength of the residential and development markets.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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