The Self-Storage Conundrum
When your projects benefits become its negatives. Self-storage is experiencing explosive growth. Annual industry revenue in the US is now $38 billion and it remains one of the fastest growing sectors in commercial real estate with over 7% annual growth since 2012. [1] Changing lifestyles, trends towards smaller housing units, downsizing and other factors continue to drive demand for more storage space. Finding sites was fairly easy once upon a time. Depressed areas, industrial parks and places where a giant concrete box would not be perceived of as a blight on the landscape welcomed this sort of investment in the community. Those easy opportunities are now tough to find as the industry matures and successful developers attempt to locate new storage facilities closer to more densely populated areas. It is hard and getting harder to get new facilities approved. Some communities are even moving to ban their use completely. Denver wants to ban storage units near transit hubs B