The self-storage sector is adjusting to normalized transaction volumes, stable capitalization rates, and moderated rent growth after the record-setting activity of the pandemic era. That’s according to Cushman & Wakefield’s H1 2025 Self Storage Market Report, released Friday.
Total transaction volume reached $2.85 billion in the first half of 2025, less than 1% higher than the same period in 2023 and consistent with pre-pandemic trends. Between 2020 and 2022, self-storage investment surged to nearly $50 billion, far exceeding the $35 billion transacted in the seven years prior.
“Investor interest in self-storage remains strong, even as the market moves into a steadier cycle,” said Tim Garey, managing director and practice group leader, self-storage at Cushman & Wakefield. “Valuations have moderated, but long-term fundamentals and demand drivers continue to underpin confidence in the sector.”
He continued, “While market conditions have normalized, the appetite for self-storage remains resilient. Investors are increasingly targeting secondary markets and value-add opportunities, positioning the sector for steady activity into 2026.”
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