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Self-storage followed the trajectory of many asset classes during the pandemic, according to Evan Hudson, a real estate partner at law firm Stroock & Stroock. At the beginning, it performed poorly, and then robustly. While a few factors contributed the strong performance, migration to new markets certainly helped.

“In the case of self-storage, the performance reflects fundamentals,” Hudson tells GlobeSt.com. “More people are moving, especially from dense urban cores to the periphery. As they move about, they need a place to stash their stuff.” Hudson adds that enhanced unemployment benefits and bond purchases by the Fed helped to increase the money supply, helping to drive the price of financial assets overall, although this was not unique to self storage.

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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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