The Real Deal Miami

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

E-commerce, office and retail could benefit
October 25, 2017 12:30PM

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