Self-storage transaction activity accelerated sharply in the third quarter of 2025, with total sales reaching nearly $1.6 billion — a 62% increase year-over-year — according to a recent report by StorageCafe. The quarter saw over 260 facilities change hands, up 32% from Q3 2024, with 18.4 million square feet of space traded, a 44% increase, reflecting renewed buyer confidence in the sector’s fundamentals. 

Institutional investors, particularly REITs, played a major role: they accounted for 22% of Q3 acquisitions, totaling around $354 million. This was down from 32% in the prior quarter, but dollar volume still increased by more than $100 million — a sign that major players remain actively deploying capital. REITs paid an average of $146 per square foot, while non-REIT buyers paid $133 per square foot. 

Geographically, Southern and Sunbelt states dominated the action. Florida, California, and Georgia each saw over $200 million in sales. Major metros also posted strong numbers: New York City led all cities with $90 million in transactions, followed by Las Vegas ($76M) and Atlanta ($43M). 

Pricing trends highlighted the continued appeal of high-barrier coastal and densely populated urban markets: New York City facilities traded above $500 per square foot, while several Southern California and Seattle-area assets exceeded $300 per square foot. Even in fast-growing suburban markets like Temecula, CA, and Snoqualmie, WA, elevated pricing reflected strong demand and limited development capacity. 

Market observers note the rebound reflects broader investor confidence returning after a period of caution. With occupancy remaining healthy and demographic trends — migration, housing scarcity, and renter growth — supporting demand, the self-storage sector looks well-positioned for another active year. Efficiency improvements, operational tightness, and tech-enabled management are also expected to differentiate top-tier assets from the rest.