Bill Bellomy, principal of Bellomy & Co., evaluates the current trends and challenges in the industry and offers his views on where the market is heading.
The self-storage industry has experienced tremendous growth over the past decades and the business continues to expand. New supply pipeline reached a new peak in September. Nationally, planned and under construction projects
account for 9.3 percent of total inventory, according to the latest Yardi Matrix self-storage report.
Although the industry seems to be going strong, Principal Bill Bellomy of Bellomy & Co. believes that the pendulum is starting to swing away from new development. In an interview with Commercial Property Executive, Bellomy discussed about the challenges and trends that influence the storage business across the U.S. and also spoke about his expectations going forward.
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