With demand driven by consumer and business interest alike, the national self-storage market is set for a strong 2019. That’s the outlook as provided by Marcus & Millichap’s 2019 US Self-Storage Investment Forecast and by Joel Deis, VP and national director of the group.
“Private businesses are a major source of self-storage demand,” the report states, “and more companies are likely to make use of such facilities this year. The economy supports business expansion, and self-storage offers a cost-effective option compared with office and retail rents.”
The report puts the percentage of businesses in a “typical” self-storage facility at 19. But it’s millennials who provide the largest base of interest, at 28% of typical non-commercial occupancy.