Self-storage industry could face head-on impact of driverless cars

E-commerce, office and retail could benefit

Miami /
Oct.October 25, 2017 12:30 PM

Driverless cars and the increasing use of ride-sharing services like Uber and Lyft could hit the self-storage industry the hardest, according to a new report.

Researchers are predicting that because people will own fewer cars, they’ll use their garages for storage space instead of self-storage facilities. The report warns investors to consider the impact of changing trends in transportation and how they will affect property values in the long term.

E-commerce, which will continue growing, will likely benefit from driverless trucks, the Wall Street Journal reported.

But the mass-market adoption of self-driving cars, which could begin in 2030, could also benefit parts of the commercial real estate sector. Top malls in urban areas would become less reliant on parking, and downtown office buildings may become more appealing for companies because commutes would become easier. [WSJ]Katherine Kallergis


Related Articles

arrow_forward_ios
From left: TPG's David Bonderman, Value Store It's Carlos Diaz, and TPG's Jim Coulter with 2400 Glades Circle
TPG, Value Store It pay $19M for Weston self-storage facility
TPG, Value Store It pay $19M for Weston self-storage facility
Merit Hill Capital CEO Elizabeth Schlesinger and the self-storage facility at 5370 South University Drive in Davie (Merit Hill Capital, Google Maps)
Merit Hill Capital pays $18M for Davie self-storage facility
Merit Hill Capital pays $18M for Davie self-storage facility
Prime Group Holdings’ Robert Moser and the self-storage site at 2401 West Broward Boulevard in Fort Lauderdale
Prime buys Fort Lauderdale self-storage facility for $35M
Prime buys Fort Lauderdale self-storage facility for $35M
Amir Korangy, Michael Shvo and Jeff Greene
Michael Shvo and Jeff Greene talk distress, opportunities in office
Michael Shvo and Jeff Greene talk distress, opportunities in office
Lynd's David Lynd with project rendering of development site at 9300 South Dixie Highway (Lynd Development Group)
Lynd unveils $30M Dadeland self-storage project
Lynd unveils $30M Dadeland self-storage project
Terranova’s Stephen Bittel with 93 Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
Terranova plans retail-and-office project on Coral Gables’ Miracle Mile
SecureSpace’s Nathan McElmurry with 2811 Coral Way
SecureSpace pays $23M for Coral Way self-storage facility
SecureSpace pays $23M for Coral Way self-storage facility
Ytech's Yamal Yidios with 1500 Brickell Avenue
Ytech buys historic Brickell château, plans restoration
Ytech buys historic Brickell château, plans restoration
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...