Feature article originally published in The Appraisal Journal Summer 2013 issue.
This article looks at self storage facilities as a component of a widespread, growing industry.
Self storage has evolved from an interim property use to a core asset in the real estate industry. Investment capital in this unique asset class has increased significantly, and self storage property has performed well despite the economic recession. As the self storage industry continues to grow, more transparency will be required and more market data will be needed to support the appraiser’s conclusions. This article explains recent self storage trends and why self storage has performed well and grown rapidly as an asset class.
[The material in this article originally appeared in Self Storage Economics and Appraisal (Chicago: Appraisal Institute, 2012).]
R. Christian Sonne, MAI
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