Since the 2008 financial crisis, the self-storage sector has matured into an institutional-quality asset, according to a recent report by Yardi Matrix. Over the years, increasing levels of self-storage utilization drove NOI growth. This in turn attracted investment interest and new development. Self-storage new supply has exceeded 2.5% of stock annually since 2015, and previous forecasts for self-storage were modeled based on this growth.

However, while forecast deliveries for 2024 and 2025 for self-storage have been increased, the forecast for the later years has been reduced.

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