{"id":1004422765,"date":"2020-04-30T21:32:42","date_gmt":"2020-05-01T05:32:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004422765"},"modified":"2025-02-28T00:06:39","modified_gmt":"2025-02-28T08:06:39","slug":"shelter-in-place-orders-boost-demand-for-storage-space","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/shelter-in-place-orders-boost-demand-for-storage-space\/","title":{"rendered":"Shelter-in-Place Orders Boost Demand for Storage Space"},"content":{"rendered":"<p>The self storage sector, which has been faring quite well over the last decade, is getting a boost from a source no one could have foreseen: the coronavirus.<\/p>\n<p style=\"text-align: left;\"><a style=\"display: inline-block; padding: 5px 24px; border: 0; border-radius: 6px; font-weight: bold; letter-spacing: 0.0625em; text-transform: uppercase; background: #960505; color: #ffffff; text-decoration: none;\" href=\"https:\/\/mydigitalpublication.com\/publication\/?i=659114&amp;ver=html5\" target=\"_blank\" rel=\"noopener\">READ THE DIGEST<\/a><\/p>\n<p>Many Americans now forced to shelter in place have found that they don\u2019t have the room for a proper home office. To make way for an impromptu workspace, those new to telecommuting are moving nonessentials off-site. Newcomers are also realizing that their space needs have ballooned far beyond desk space.<\/p>\n<div id=\"attachment_1004422774\" style=\"width: 1010px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004422774\" data-attachment-id=\"1004422774\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/shelter-in-place-orders-boost-demand-for-storage-space\/smartstop-852-metcalf-st-escondido-calif\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;iPhone 6s&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1578495152&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;4.15&quot;,&quot;iso&quot;:&quot;25&quot;,&quot;shutter_speed&quot;:&quot;0.00014300014300014&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"SmartStop, 852 Metcalf St., Escondido, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The multi-level, San Diego-area SmartStop facility at 852 Metcalf St. in Escondido, Calif., was delivered in early 2020 with 1,150 units on a 1-acre site. Photo courtesy of SmartStop&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg?w=1000\" class=\"size-full wp-image-1004422774\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg\" alt=\"\" width=\"1000\" height=\"750\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/SmartStop-852-Metcalf-St.-Escondido-Calif..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><p id=\"caption-attachment-1004422774\" class=\"wp-caption-text\">The multi-level, San Diego-area SmartStop facility at 852 Metcalf St. in Escondido, Calif., was delivered in early 2020 with 1,150 units on a 1-acre site. <em>Photo courtesy of SmartStop<\/em><\/p><\/div>\n<p><em>\u201cOur college kids need to come home earlier, but we don\u2019t have as much room (with the new home office). Where are we going to put the extra furniture? We\u2019re going to put it in a self storage facility,\u201d said Steven Weinstock, head of Marcus &amp; Millichap\u2019s self storage division. <\/em><\/p>\n<p>The self storage sector has been quite robust, buoyed by steady job creation and wage growth that fueled household formation and spending, according to Marcus &amp; Millichap\u2019s 2020 U.S. Self-Storage Forecast. Very few facilities operate at 100 percent occupancy; in most markets, self storage operators are well positioned to accommodate the unanticipated coronavirus-related demand, and they can do so remotely.<\/p>\n<p><em>&nbsp;&#8220;Storage continues to evolve in its use of technology and our digitally-driven traffic continues to be strong. The volume of calls in our call center and visits to our website continue to build our lead flow,&#8221;<\/em> H. Michael Schwartz, CEO of SmartStop Self Storage Inc., said.<\/p>\n<p>Demand for self storage is likely to grow stronger with any economic downturn. This was seen following the Great Recession of 2008, when households consolidated and self storage became an essential commodity.<\/p>\n<p>Designed for convenience and efficiency, the self storage sector is inherently suitable for life during social distancing, particularly in urban settings where self storage has become a model in high-tech automation. <em>&#8220;You can sign up, you can enter, you can drive in and you can access your unit, all without any human interaction. It&#8217;s all keycode, pass card, iPhone. It&#8217;s technology driven,&#8221;<\/em> Weinstock noted.<\/p>\n<hr>\n<p><em>Sector Insights rotates among office\/medical office, industrial, retail, multifamily, self storage&nbsp;and hotel\/hospitality.<\/em><\/p>\n<p><a href=\"https:\/\/mydigitalpublication.com\/publication\/?i=659114&amp;ver=html5\"><em>Read the May 2020 issue of CPE.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The self-storage sector, which has been faring quite well over the last decade, is getting a boost from a source no one could have foreseen: the coronavirus.<\/p>\n","protected":false},"author":969,"featured_media":1004422774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1521,21742],"tags":[],"class_list":["post-1004422765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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