{"id":1004475853,"date":"2020-09-17T06:41:00","date_gmt":"2020-09-17T14:41:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004475853"},"modified":"2025-02-26T06:23:12","modified_gmt":"2025-02-26T14:23:12","slug":"top-5-northeast-markets-for-self-storage-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-5-northeast-markets-for-self-storage-development\/","title":{"rendered":"Top 5 Northeast Markets for Self Storage Development"},"content":{"rendered":"

\"\"<\/a>Despite the coronavirus-induced economic stress, and with construction being halted for the entire lockdown period, the self storage new-supply pipeline has not diminished in the Northeast. As of July, some 25.3 million square feet of storage space was under construction or in the planning stages across the region, representing 14.4 percent of existing stock\u2014significantly higher than the 8.9 percent national rate.<\/p>\n

As high barrier-to-entry markets, such as New York City and Boston, are becoming increasingly competitive and providing limited opportunities for new development, industry players have shifted their focus to secondary markets. Therefore, it comes as no surprise that four of the five metros ranked are next-tier self storage markets. The table below highlights the top five Northeast markets for underway and planned projects as a percentage of total stock, using Yardi Matrix data.<\/p>\n