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Updated over 3 years ago, 03/29/2021
Will people move to another storage facility if theirs is closed?
Curious to what people think here. Imagine if you had a self storage facility that was going to be demolished for future development, what % of the tenants you think would try and find a new facility to move to? Let's say though most of the tenants have been in the unit for years and rent was 30%-40% below most of its nearby competitors (within 5 mi) but there are places that offer rent in that range but they are 20 mi away (a 40 min drive).