Twin Cities added 1.2 million square feet of storage space in 2020 Construction of 7 more such facilities is planned for 2021, new report says. March 1, 2021 1:33pm Text size Copy shortlink:
Despite the pandemic, demand for self-storage units continues to be strong, prompting new construction and more competitive pricing last year, according to a new report by self-storage analytics firm Yardi Matrix.
While construction slowed from 2019 s brisk pace, self-storage companies still added 1.2 million square feet of storage space in the metro area last year.
That compares with 1.7 million square feet of storage added in 2019, the year the region recorded its highest such construction activity in four years, Yardi s report said.