The pandemic elevated Las Vegas self storage deal activity to new heights in 2020. In our most recent industry report based on Yardi Matrix data, we’ve identified Las Vegas as one of the top self storage markets based on investment volume in 2020.
Here are other highlights on Las Vegas’ self storage transaction activity:
- Las Vegas saw nearly $64 million in closed self storage deals in 2020, more than double the previous year’s total of $31.8M. Investors traded six properties totaling 432,016 square feet of storage space.
- The average per-square-foot price jumped an impressive 88%, from $74.9 in 2019 to $149.
- The most notable deal was completed by CubeSmart who expanded its Las Vegas footprint with the acquisition of a 3-acre property.
The heightened investment activity comes as no surprise, as Las Vegas storage market has fared rather well during 2020. Annual street rate performance was positive for the standard 10×10 non-climate-controlled units, up 5.7 percent, as of December 2020.
Please find the full report here: https://www.storagecafe.com/blog/2020-self-storage-sales-slightly-down-prices-rising/