Proving its recession-resiliency, self-storage remained a strong performer throughout the initial wave of COVID-19, and has since produced arguably two of the best quarters of occupancy and rental rate growth in the industry’s history. As of June 2021, street rates have accelerated significantly – posting the highest average rental rates since September 2017.

Also, due to its impressive fundamentals, it was one of the few assets to continue transaction activity and development during the pandemic. Once considered an oversaturated market, the self-storage industry is now thriving, with supply-demand balancing in most markets, creating a significant increase in capital chasing these assets.