Key Developments

In June 2023, SecureSpace announced the acquisition of Northlynn Mini Storage in Seattle's Lynnwood area. It plans to update the leasing office with SecureSpace's modern style and install its high-security platform managed by its national security team.
In June 2023, StorageMart, a company that is known for operating over 280 self-storage facilities across Canada, the K., and the U.S., purchased I-29/I-35 Self Storage in Kansas City, Missouri, along with Summit Self Storage in Missouri. These two properties together offer a total of 112,296 rentable square feet across 796 apartment buildings.
In June 2023, SmartStop Self Storage REIT, Inc., a fully integrated self-storage company, announced that its affiliates, Strategic Storage Trust VI, Inc., and Strategic Growth Trust III, Inc., acquired an eight-facility portfolio in the Greater Toronto Area (GTA). These facilities comprise approximately 7,400 units and 758,000 rentable square feet. With this acquisition, SmartStop now owns or manages 33 operating self-storage properties in Canada, totaling about 3.0 million square feet.
In May 2023, according to Cushman & Wakefield and the Self Storage Association UK (SSA UK), the U.K. self-storage industry is projected to surpass USD 1 billion in annual turnover for 2023. Even with the rising cost of living, customers remain highly interested in conveniently available rental space.
In October 2022, U-Haul Moving and Storage of North Nashua completed the construction of 600 indoor climate-controlled self-storage units with advanced security features, now available for rent

Self-Storage Market Report Snapshots