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As residents get priced out of infill coastal markets close to Downtown San Diego and the beach communities, they have been moving out to areas like La Mesa to gain more value for their home, IEC's Brendan Gibney tells GlobeSt.com.
“Shore points such as Belmar with their own rail station have rapidly become a year-round haven for an out-commuter tenant base,” says Gebroe-Hammer's Adam Zweibel.
Capital investors chasing the historical returns of the sector have prompted numerous new entrants into the self-storage industry that are forming teams to build and buy the product, Westport Properties' Ben Hall tells GlobeSt.com.
Due to the recent Highway 146 expansion resulting in many businesses being displaced, a long-time tenant was forced to move its Seabrook location and is now leasing space at Seabrook Center on NASA Parkway.
The 48-year-old Park Forest office campus is in a dense infill area of Dallas which has been gentrifying with millennials, resulting in demand greater than the number of self-storage units that can be built.