Michael Mele and Luke Elliott of the The Mele Group reflect on last year’s self-storage real estate market and offer insight on what’s to come in the next 12 months. They discuss storage occupancies, interest rates versus capitalization rates, and expansion into the tertiary markets by the storage real estate investment trusts. Mele is senior vice president of investments in the Tampa, Fla., office of commercial-property investment firm Marcus & Millichap and senior director of the company’s National Self Storage Group (NSSG). Elliott is director of the NSSG.
