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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