To read this full article you need to be subscribed to Newsline.Sign in Sign up for a FREE subscription
U.S. self-storage sales volume hits $10b in 2022
The U.S. self-storage sector saw $10 billion in storage facility sales in 2022, representing an 18.7 percent decrease from the exceptional sales volume in 2021, according to Yardi Matrix data. However, Yardi’s research indicates 2022 levels are still higher than previous years.
A total of 73.4 million square feet of storage space was purchased across the United States in 2022, with Texas and Florida topping other states in terms of square footage traded. Texas traded the most storage space in 2022, more than 16 million square feet in 257 facilities, and Ocala, Fla. — a city of about 60,000 people, known as the “Horse Capital of the World” — saw around $166 million of sales for 23 transactions. Ocala was in second place for both the number of deals in 2022 and the storage facility square footage involved — slightly more than 1 million square feet.
In an analysis of 670 major cities, New York City emerged for the second year with the highest sales volume acro