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Self-Storage Real Estate Outlook: The North-Central States

Michael L. McCune Comments
Continued from page 3

Goldman: Cap rates are still on the low side, but will most certainly rise. That uncertainty, coupled with the increasingly complex challenges of facility management, is driving some owners to consider selling.

Hitler: I think the economic slowdown has affected cap rates in Wisconsin. Since buyers are more cautious and lenders have raised rates, cap rates have to rise. Sellers have been slow to recognize prices have come down to some extent.

Jordan: I’m unable to determine the impact in Minnesota.

Randklev: Cap rates in Iowa have increased a little, but with rates staying low it keeps cap rates down. 

Smith: We have seen very little impact in Nebraska on cap rates thus far.

Michael L. McCune is president of the Argus Self Storage Sales Network, a self-storage real estate brokerage and development company based in Denver. Argus also operates, a marketing medium for owners in the self-storage industry. For more information, call 800.55.STORE.

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