Pandemic fuels demand for, investment in self-storage facilities
In 2018 David and Beth Mesite paid $750,000 for Trackside Self-Storage in Plainville, seeing it as a good business for David to run into his retirement years. Offers to buy the 177-unit property have come pouring in recently, as the COVID-19 pandemic has caused storage demand to soar, increasing occupancies and investor interest in the facilities. “Just about every week I get one call, if not more,” Mesite said. “I just don’t listen to the offers. I purchased this as a long-term holding.”
Source: hartfordbusiness.com