Dark Times Ahead for Kansas City’s Self-Storage Industry
KANSAS CITY, MO./ FEBRUARY 12, 2019 (STL.News)
The greater Kansas City area’s commercial real estate market has been thriving since 2012. Developments of multi-family, industrial, and self-storage property types have all yielded strong returns. As household income grows and unemployment rates continue to shrink (down to 2.7% as of October 2018), Kansas City’s economic environment has allowed these real estate asset classes to thrive. One asset class that has experienced particularly accelerated growth due to these improved market fundamentals is self-storage, and developers are taking notice.