Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

This Looks Like Self Storage 20 - 25 Years Ago

24 Mar 2026 · 1 min

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Twenty-five years ago, self-storage was fragmented mom-and-pop operations. Early operators who understood supply and demand got rich before Public Storage and Extra Space arrived and compressed returns. Today's boat and RV storage looks the same way.

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So here's the context that puts all this demand and data in perspective. Self-storage 20, 25 years ago was fragmented, mom-and-pop dominated, no REIT presence at scale. Operators who understand the supply-demand dynamics and moved early built significant wealth before Public Storage and Extra Space and CubeSmart arrived and compressed returns across the sector. Boat and RV storage today, fragmented, mom-and-pop dominated. REITs have largely stayed out to this point.