Self Storage – A Lucrative but ‘Get-Rich-Slow Business’

• The self storage industry has benefited from the housing crisis.
• Homeowners-turned-renters had to find places to stash their stuff, thus increasing demand for self storage units.
• Self Storage is “a long term, patient business.
• It’s a get-rich-slow business”, according to Jay Massirman with Miami City Self Storage.
• The self storage development cycle is closer to the end than the beginning.
• Adding ground floor retail to proposed self storage development might appease lenders and elected city officials.

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