Day: March 13, 2025

Self-Storage Market Update – Spring 2025

Recently I had the pleasure of moderating a panel of some of the top players within the self-storage space nationally, from REITs to small operators, developers, a general contractor and several lenders. To start 2025 the operators commented that tenants have become stickier – allowing the implementation of multiple rounds of ECRI’s (Existing Customer Rate Increases), helping increase overall portfolio incomes. While the early leasing season is showing promise it still lags well behind the peak years of 2021-2022 and is slightly below the pre-COVID years but markedly improved over…

A New Self-Storage Facility Opening Soon in Avondale, AZ

Location: Southwest corner of Indian School and Osborn roads, directly south of a neighborhood that includes residents from both Avondale and Litchfield Park. Description: Extra Space Storage is building a new 564-unit storage facility atop a 2.3-acre site that has been undeveloped for nearly 30 years. About 110,000 square feet of the facility will be used for storage space, while another 900 feet will go toward office space. History: The Avondale City Council approved a conditional use permit for the project in 2021 after city staff and the Planning and…