Are We Back At The Top Again?

As we settle in to 2011, it is clear that self-storage values are rebounding along with the values of all other commercial real estate. In 2010, large MSAs like New York, Boston, Los Angeles, Chicago, San Francisco, Houston, and Washington saw the beginning of a rapid recovery in commercial real estate values, much to my surprise. A combination of big portfolio sales and solid returns during the downturn has led both small and large investors back to self-storage as a preferred investment. We have already seen upticks in investor interest in the second tier markets such as Denver, Kansas City, Colorado Springs and Charlotte as the REITs and private equity reach for higher-hanging fruit, and we anticipate this to continue through 2011…