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chi-lifestoragefacility (2) Life Storage reported occupancy of 92.7%, a slight increase from one year ago.

CHICAGO—The self-storage sector has become one of the most attractive investments in commercial real estate, outperforming most others in terms of revenue growth, but in the past few quarters it reached a plateau. Growth in occupancy and revenue has slowed for its major REITs, along with their stock prices. As a result, these companies have slowed down acquisitions. However, that has opened up opportunities for the many private investors that want to jump into the still-vibrant sector.

“Transaction volume is way down for the public companies,” Marc Boorstein, a principal with self-storage firm MJ Partners, tells GlobeSt.com. The Chicago-based company just published its latest analysis of the sector, and found that self-storage REITs such as Public Storage and Extra Space Storage generated same-store revenue growth in the second quarter ranging from 0.9% to 5.4%. Several years ago, the same figures ranged from around seven to nearly ten percent.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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