Top 10 Markets for Self Storage Transactions in 2025

Single-asset self storage transactions totaled more than $2.6 billion in 2025, according to Yardi Matrix data. The figure was above the approximately $2.4 billion deal volume of 2024. Valuations have strengthened. The average price per square foot climbed to $117.01—up 6.6 percent year-over-year—even as square footage traded fell. On a national scale, activity centered around fewer sales but larger transactions. The average deals size moved from $4.9 million in 2024 to more than $5.9 million in the past year. Note: this list does not take into account portfolio sales nor sales that involved self storage facilities still in the development pipeline.

The table below highlights the top 10 metros for self storage transactions in 2025. Together, these markets accounted for 42.3 percent of all self storage sales nationwide, a step up from the 32.5 percent of recorded in 2024.

1. San Francisco Metro (Includes Oakland and East Bay)

Investor demand surged in the San Francisco metro, which ranked first with nearly $212 million in completed sales—more than double the $101.7 million recorded in 2024. The metro captured 8.1 percent of national volume, supported by stronger pricing and a notable jump in activity. A total of 16 storage properties totaling 1.3 million square feet changed hands in 2025, twice the eight that sold the prior year. Average price climbed to $208.85 per square foot, up 28.3 percent year‑over‑year.

Notable transactions highlighting the metro’s momentum included the $47 million acquisition of an Extra Space Storage totaling 220,236 square feet in Walnut Creek, Calif. Ancora Group Holdings paid $213.4 per square foot for the Class A facility.

2. New York Suburbs

New York Suburbs claimed second place with more than $129 million in sales. All in all, the metro accounted for 4.9 percent of the national volume. The spike in investor appetite pushed the transaction volume to more than double the $60.8 million of 2024. A total of 14 properties encompassing 909,311 square feet traded, up from eight the year before. Besides solid growth in sales activity New York Suburbs also saw a notable improvement in pricing. The average price per square foot increased 11.2 percent year-over-year to $174.16.

One of the earliest transactions closed within New York Suburbs involved a Public Storage facility in Manahawkin, N.J. The namesake REIT paid $23 million or $193.3 per square foot for the three-story property totaling 119,000 square feet.

3. Seattle

The Seattle metro settled in third with $118.7 million in completed sales. Overall, these deals accounted for 4.5 percent of the national volume. As investors turned their attention to the metro, the sales volume jumped 301.7 percent year-over-year. Across Seattle, 11 facilities totaling 696,649 square feet were sold, a considerable rise from the two that traded in 2024. The average price per square foot landed at $181.3, marking a 6.6 percent contraction year-over-year.

Among the recent transactions, Extra Space Storage’s acquisition of a 93,815-square-foot property in Seattle achieved the highest price per square foot. A private investor sold the asset for $309.1 per square foot netting a total of $29 million.

4. Atlanta

With more than $117.8 million in self storage transactions, Greater Atlanta secured fourth place. Despite a slight 1.7 percent year‑over‑year contraction, the metro still accounted for 4.5 percent of national volume. Overall, the metro held steady with 16 facilities totaling 1.2 million square feet trading, netting one more sale than in 2024. The average price per square foot dropped to $118.4, down 3.4 percent year-over-year.

10 Federal paid $3.5 million or $64.9 per square foot for a self storage facility in Carrollton, Ga. Valuation was on the lower end for the metro. The property last traded in mid-2023 for $3.8 million or $70.5 per square foot.

5. Miami

The Miami metro placed fifth by recording $113.6 million in self storage deals. While investor interest lessened as transaction volume dropped 31.7 percent year-over-year, the metro still captured 4.4 percent of the national volume. Across the metro, nine facilities totaling 907,496 square feet traded, the same number as in 2024. The average price per square foot came to $143.7, down 38.0 percent year-over-year.

Among the last transactions to close in 2025 was the $31.5 million acquisition of a 121,969-square-foot facility in North Miami, Fla. CubeSmart paid $258.3 per square foot for the 2022-built property.

6. Las Vegas

Las Vegas saw approximately $105.2 million in self storage sales, landing the metro in sixth place. The metro accounted for 4.0 percent of nationwide sales volume. Investor appetite turned toward the metro pushing the volume up 548.6 percent year-over-year. A total of ten self storages encompassing 856,649 square feet traded, a notable jump from the two in 2024. Pricing held flat despite the surge. Las Vegas’ average price per square foot was $122.8, largely unchanged from the $122.9 average of 2024.

Morningstar Properties acquired an 85,400-square-foot property in Las Vegas for $8 million or $93.8 per square foot. The two-story asset renamed Morningstar Storage last traded in 2003 for $5.4 million or $104.0 per square foot.

7. Nashville

The Nashville metro placed seventh with more than $100.8 million in sales, accounting for 3.9 percent of national volume. Elevated investor interest led to the metro surpassing the $37.1 million volume of 2024. Eight facilities totaling 584,907 square feet traded, one more than in 2024. Nashville’s average price per square foot reached $172.4, climbing 71.1 percent year-over-year.

Among the deals that shaped the metro’s performance was the sale of a Class A asset totaling 119,571 in Nashville, Tenn. Mini Mall Storage paid $30.3 million or $253.0 per square foot for the property. The 2018-built facility achieved the highest sale price for the previous year.

8. Tampa

Tampa logged more than $93.8 million in self storage sales landing in eight place. The transaction volume was up 59.5 percent compared to 2024. With this improvement the metro made up 3.6 percent of the nation’s total volume. In 2025, ten properties totaling 821,384 square feet sold across Tampa, a step up compared to the seven that traded in 2024. The metro’s average price per square foot also improved, at $141.0 the figure was 11.3 percent above the 2024 average.

An example of higher valuations was the sale of Lake Avenue Rentals totaling 30,210 square feet in Largo, Fla. The Class C asset traded for $4.3 million, or $142.3 per square foot. This marked an increase compared to the $98.5 per square foot recorded in 2024.

9. Los Angeles

With approximately $58.1 million in self storage transactions, Greater Los Angeles secured ninth place. Although transaction volume shrank 66.0 percent year-over-year the metro still made up 2.2 percent of the national volume. Five storage facilities totaling 382,851 square feet changed hands, one more transaction than in 2024. The average price per square foot reached $151.7, dropping sharply from the $296.6 average of 2024.

Trojan Storage acquired a 94,830-square-foot facility in Arleta, Calif., for $4.2 million or $44.5 per square foot. Developed in 2002, the property changed hands for the first time contributing to LA’s deal volume for the past year.

10. Boston

The Boston metro rounded out the top ten with $54 million in self storage deals. This accounted for 2.1 percent of national volume. Investor interest picked up, as the transaction volume increased 134.5 percent year-over-year. Across Boston, seven self storage properties totaling 375,602 square feet traded. Despite lower square footage trading, pricing more than doubled. The average price per square foot settled at $170.3, a significant jump compared to the $82.1 average of 2024.

Notable transactions contributing to the revitalized sale activity included the acquisition of a 57,900-square-foot property in Gilford, N.H. U-Haul Holding Co. purchased the facility for $9.6 million or $165.4 per square foot. The transaction was among the last to close in the past year.