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Self-Storage Market Normalizes After Pandemic-Era Sales Records
The self-storage sector is recalibrating following the record-breaking activity seen during the pandemic years. According to Cushman & Wakefield’s H1 2025 Self Storage Market Report, the industry is now seeing normalized transaction volumes, stable capitalization rates, and moderated rent growth.
Total transaction volume for the first half of 2025 reached $2.85 billion—less than a 1% increase compared to the same period in 2023. This pace aligns with pre-pandemic trends. For context, between 2020 and 2022, investments in the self-storage sector soared to nearly $50 billion, significantly surpassing the $35 billion recorded 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 for Self-Storage at Cushman & Wakefield. “Valuations have moderated, but long-term fundamentals and demand drivers continue to underpin confidence in the sector.”
Garey added, “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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