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Local existing self-storage properties can benefit from the combination of less development and stronger demographics.
Of 2024 grads, two-thirds settled in the 21 largest talent hubs.
Over 35% of new industrial construction under way consists of massive facilities of one million SF or more.
The prevalence of US markets in the top 20 is mainly down to two factors.
Even though student housing performance was weaker than previous highs, it remains strong.
Of developers two-thirds stated that their most active projects will be building affordable housing.
Concessions have increased from 2023 levels in 40 of the 45 largest metros.
Tenants are favoring newer and higher-tech facilities
The segment of production most affected was mid/high rise.
Of the top 10 metros with the biggest increase in inventory, four were in Florida.