Commercial real estate firm Marcus & Millichap has released a 2019 U.S. investment forecast for the self-storage industry. The 51-page PDF report offers analytical insight on a national, regional and local level. Produced by the firm’s National Self-Storage Group and released through its research-services division, it’s available for free download from the company website.
The publication addresses:
- Economic drivers for 2019
- Supply, development and rental trends in numerous markets
- Capital-markets trends
- Insight to the role of demographics in the industry
“Though [project] completions set an all-time high in 2018, the wave has begun to recede. Tighter lending has joined the impact of rising building and labor costs to restrain self-storage construction in 2019,” the report states. “It is also worth noting that construction has generally been quite concentrated, with just five metros receiving 25 percent of the supply over the last three years. Though new competition and properties in lease-up could create short-term challenges on a localized basis, several major metropolitan areas still face a shortage of self-storage space.”
Marcus & Millichap produces more than 2,000 research products each year, according to company officials. Its research-services department offers a range of publications, from national economic perspectives to market-specific analyses. Its website enables users to search for reports by property type, location or keyword.
Founded in 1971, the company is a commercial property-investment firm with more than 1,700 investment professionals in offices throughout Canada and the United States. It closed nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion.
Marcus & Millichap, 2019 Self-Storage US Investment Forecast