U.S. Self-Storage Market Continues to Thrive: Sales Remain Strong

The U.S. self-storage sector maintained its investor appeal in 2022, with investment sales totaling approximately $10 billion according to Yardi Matrix data. This figure represented an 18.7% decrease from the previous year; however, it was bumped up by StorageMart’s acquisition of Manhattan Mini Storage from Edison Properties for a whopping $3 billion.
New York City once again led the nation in sale volumes, exceeding anywhere else in the country at more than $500 million across all five boroughs while southwestern cities such as Phoenix and places around Washington DC saw activity ranging between $100 million and 200 million dollars respectively .
In terms of square footage purchased, 2022 proved to be a solid year for the market with 73.4 million square feet changing hands nationwide – Texas and Florida stood out as having particularly active self-storage markets both witnessing sales of over 10 millionsquare feet each .