Tech Helps Landlords Add Mini-Storage for Unused Space

From pricing a new facility to partnering with a third party to reposition existing space as infill self-storage, technology is giving landlords options in a strong CRE sector.

By Erik Sherman | March 25, 2022 at 07:25 AM

At times of uncertainty and displacement, self-storage becomes a hotter commercial real estate sector. Even as the pressures from the recession have begun to wane and demand has stabilized, the sector still has plenty of run room. Look at World Class Holdings’ sale of a 64-property self-storage portfolio to CBRE and facility operator William Warren Group/StorQuest for $588 million. That’s a lot of spare mattresses, old bicycles, and boxes of books that are waiting for transport to a new location.

There are clearly areas where self-storage is overbuilt. But many more where more could be used, or older systems upgraded. For landlords, there is an option that seems like a building owner’s equivalent of a rideshare transportation service—leverage an existing physical asset to make money you might not have otherwise.

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