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Wall Street Journal: Towns to Self-Storage Facilities: Please Go Someplace Else

According to The Wall Street Journal,

Local governments across the country are feeling overstuffed with self-storage facilities.

Municipalities have placed moratoriums on new self-storage businesses as they try to reconcile the industry’s growth and their visions for the future. They include Rock Hill, S.C.; Pompano Beach, Fla.; Birmingham, Ala.; Milford, Conn.; Nampa, Idaho; and Vancouver, Wash.

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Industry groups say local governments have never been particularly welcoming. But rapid growth of the past few years has made self-storage hard to ignore. Once relegated to outlying industrial parts of town, storage units have now started popping up in denser areas closer to downtowns.

“The desire on behalf of the owner is to be as close to the customer as possible,” said Ryan Lumb, an analyst at Green Street Advisors who focuses on the self-storage industry. “There’s some political pushback there.”

Customers also want to be close to their stuff, sometimes treating storage units as extra closet space. Mr. Lumb said he once observed a storage-unit tenant “pull up in their vehicle, open their unit, pull out exactly one outfit and drive away.”

To read the full article, click here.