Mike Patterson of Commercial Realty Services of West Georgia reports that the self storage industry is still hot, but the REITS are backing away somewhat after being very aggressive for 18 months to 2 years. Previously REITS had been building, acquiring and operating with their own management companies, getting a 7.5% to 8% yield. Locally, a 10 floor self storage facility is coming to 2061 Peachtree Street. Mike is closing on two self storage facilities in mid October, one in Douglasville and another in Macon.
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