Marcus & Millichap’s Mele Storage Group Responds to Wall Street Journal Article

The Wall Street Journal published an article last month that got the full attention of the self-storage industry. The article, entitled, “Self-Storage REITs Lose Heat,” chronicled the rise and fall of what it called a “tiny niche of real estate investment trusts in the self-storage sector.”

“A recent Wall Street Journal article reported that self-storage REITs are showing some softness. Same-store growth in net operating income declined a few percentage points,” said Michael A. Mele, Senior Investment Associate at Marcus & Millichap’s Mele Storage Group. “That may be true, but that doesn’t mean that there aren’t still solid investments in the market. It just means investors of all sizes need to be more cautious about their acquisitions.”

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Add comment June 13th, 2007