Weekly Self Storage Transaction Roundup: 7/27/26 – 7/30/26

This week’s transactions illustrate how local market fundamentals can tell a very different story than headline supply metrics. Despite very different supply conditions, each of these markets offers characteristics that help explain why investors continue to pursue opportunities there.

Burke Storage in Morganton, NC appears, at first glance, to be in an oversupplied market, with nearly 12 square feet per capita across 17 facilities, two more developments planned within the same five-mile trade area, and little projected population growth. Yet pricing tells a different story. Walk-in rates increased 2.6% over the past year, while online rates climbed an even stronger 12.8%, suggesting that nearby Broughton and ongoing redevelopment activity are helping support demand. The 12,550-square-foot, 86-unit property also offers room for future expansion.

Two New York transactions highlight the opposite dynamic. Hometown Self Storage represents a buyer entering self-storage after years of investing in multifamily, attracted to a market with just 2.70 square feet per capita across seven facilities and one project in the pipeline. Walk-in rates increased 3.7% over the past year, while online rates rose 13.2%. Further south, a newly completed 108,600-square-foot, 859-unit Class A facility traded in Garnerville, where Rockland County remains supply constrained at just 3.2 square feet per capita despite two planned developments. Walk-in rates climbed 9.8% over the past year, while online rates surged 27.8%. Both New York markets are projected to grow by roughly 2% over the next three years, and renter households account for approximately 26% to 35% of residents, supporting future storage demand.

Rounding out the week, a combined self-storage and RV facility changed hands in Lumberton, NC. The Boat & RV market is served by just five facilities, while rates have increased 13.4% over the past year. Positioned along the I-95 corridor, Lumberton benefits from steady RV travel, easy access to outdoor recreation, and a limited competitive landscape, helping support continued investor interest in specialized storage assets.

*Market Snapshots are based on a defined five-mile radius from each city center, capturing a more representative view of the core demand base. Reported rates are calculated using standardized benchmark unit types to ensure consistency across markets.