Here’s how Arizona’s self-storage industry continues to flourish
By: AZ Big Media
Although the past two years have been challenging for most business sectors in Arizona, the state’s commercial real estate community – and the self-storage industry in particular – fared better than expected and in some cases even flourished.
“This is not the first time that the self-storage industry has shown exceptional strength in a downturn,” said John Chang, Senior Vice President, National Director Research Services with Marcus & Millichap Real Estate Investment Services, in the opening discussion, “Can the Worst of Times Deliver the Best of Times?”
“During the Great Recession, self-storage outperformed other types of real estate. More capital is coming into self-storage as major institutions see it performing well when things are not going well in the economy. This has also been true during good times,” Chang added.