We have had several posts about the self storage industry and its growing impact on real estate investing. A recent report from STORAGECafé takes a look at how much self storage units actually cost across America. They say the industry continues to expand by meeting the need for safe & affordable storage space. In fact, they point out that while there is currently about 1.4 billion square feet of self storage space in the U.S., 13%, of that (roughly 190 million sq. ft.) was built over the last five years.
“The demand for storage has increased substantially in recent times, driven by both residential and commercial consumers. Many people, including employees that found themselves needing to move their work operations home, as well as companies who had to reorganize their place of business in order to follow social distancing guidelines, turned to self storage to gain extra space.”