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

E-commerce, office and retail could benefit

TRD MIAMI /
Oct.October 25, 2017 12:30 PM

Self-driving car with self-storage facility. Photo illustration by Jhila Farzaneh for The Real Deal (Credit: Getty Images)

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
South Florida Logistics Center

JPMorgan buys Amazon-leased warehouse next to Miami International Airport

14900 Northwest 22nd Court with Jonathan De La Rosa and Ben Silver

Opa-Locka warehouse near Amazon distribution center sells amid rising demand

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

arrow_forward_ios