With the continuous development of the self-storage industry, self-storage has become an increasingly attractive investment target. As a way of investing in real estate, self-storage REITs (real estate investment trusts) allow investors to invest in self-storage properties and enjoy stable cash flow from rental income. In this article, we will look at some of the major self-storage REITs in the US and their focused projects.
Public Storage has largest market capitalization
Public Storage is the largest self-storage REIT in the United States with a market capitalization of nearly $60 billion. It has interests in over 2,500 self-storage facilities across 38 states. Public Storage focuses on owning and operating self-storage facilities in major metropolitan markets. Its self-storage spaces are mostly used for personal storage by consumers and businesses. Public Storage has built a strong brand name and its facilities are usually located in convenient, high-visibility locations which helps attract customers.
Extra Space Storage has third-largest presence
Extra Space Storage is the third largest self-storage REIT in the US. It owns and operates over 1,800 self-storage facilities across 40 states and Washington D.C. Extra Space Storage focuses on owning and operating self-storage facilities in top major metropolitan markets. It also manages stores owned by third parties. Extra Space Storage provides storage spaces for personal and business use. Its locations in central business districts and suburbs allow it to serve both consumers and small businesses.
CubeSmart focuses on high-barrier markets
CubeSmart is another major self-storage REIT operating across the United States. It owns around 560 storage facilities concentrated mostly across states like Texas, Florida, New York and California. CubeSmart focuses its investments on high-barrier-to-entry markets with positive demographic trends. It aims to build high-quality and attractively located properties to drive occupancy and rental rates. CubeSmart’s facilities cater to both residential and commercial customers providing storage solutions for their changing space needs.
In summary, major self-storage REITs like Public Storage, Extra Space Storage and CubeSmart own and operate facilities across key metropolitan markets in the US. They focus on prime locations to attract customers and maximize occupancy. Self-storage REITs provide investors a way to gain exposure to this growing real estate sector.