17 Mar 2025
The Phoenix-Mesa-Scottsdale, AZ CBSA has the most forecasted supply under construction (relative to total supply) of any market within the top 50 CBSA’s with over 5.7% new supply under construction currently.
The success of a self storage project is widely determined by how underserved for storage the trade area around it is. Timing is especially important. If too many new facilities come online at the same time close to one another, their lease ups can be prolonged making it difficult to hit their projections.
Pockets of the Phoenix-Mesa-Scottsdale, AZ CBSA could see low rates for the foreseeable future as new facilities come online in close succession.
