The list below details the most active Western markets for self storage construction. The top nine metros had added more than 1.3 million square feet of self storage space as of April, a significant portion of the nearly 14 million square feet added on a national level. These metros also had several projects underway, accounting for 8.7% of projects under construction on a national level. Over the past decade, more than 46 million square feet of space was added across these nine metros.

1.    Phoenix

In the past decade self storage developers added 14.4 million square feet of storage space to Phoenix’s inventory. Developers continued to maintain an active new supply pipeline due to demand created by the metro’s growing population. As of April, five facilities encompassing 432,688 square feet were completed. Phoenix’s pipeline included 19 projects under construction amounting to 1.4 million square feet.

In 2022, 22 properties totaling 1.8 million square feet came online. Completions are expected to keep up in the near future. In 2023, 19 facilities totaling 1.4 million square feet are expected to come online, followed by roughly 1.3 million square feet added in both 2024 and 2025, according to Yardi Matrix’s Storage Completions Forecast.

AMERCO Real Estate Co.’s 87,865-square-foot facility in Apache Junction, Ariz., is one of the largest facilities currently underway in the metro. The nine-building U-Haul Moving & Storage will stretch across more than 73 acres.

2.    Las Vegas

In the past decade, nearly 4.7 million square feet of storage space was added to the Las Vegas’ inventory. To continue this expansion four self storage properties were delivered totaling 392,007 square feet throughout metro in the first four months of the year. Deliveries are on pace to surpass the 2022 figures, when seven facilities came online encompassing 691,892 square feet. Based on the forecast, between 2023-2025 the metro’s footprint is expected to increase by more than 2.8 million square feet. To maintain the pipeline developers had 14 projects totaling 1.1 million square feet underway in April.

An expansion project is one of these spaces under construction. Dahn Corp. recently started work on the second phase of Mini U Storage, which will add another 57,562 square feet to the 54,060-square-foot initial phase completed in 2004.

3.    Tucson

A single facility encompassing 59,115 square feet came online in the Tucson metro as of April. Overall, self storage development has progressively increased since 2014, when only an 87,520-square-foot facility came online. Activity peaked in 2020 when five storages were delivered. Even if developers completed merely three storages encompassing 307,336 square feet in 2022, development activity is expected to remain uninterrupted. Based on the forecast, this year four facilities encompassing 237,723 square feet are expected to be completed. In 2024 seven projects totaling 555,340 square feet are expected to come online followed by another 226,183 square feet of storage space added in 2025. Self storage developers in Tucson have stayed busy, the under construction pipeline includes seven projects encompassing 600,374 square feet.

At the end of last year Verdad Real Estate kicked off Tucson’s sole conversion project currently underway.  The former Southwest University of Visual Arts built in 1956 will be redeveloped into an 87,400-square-foot self storage facility managed by Extra Space Storage.

4.    Boise

As of April, a single facility totaling 58,353 square feet came online in the Boise metro as well. The metro also had moderate levels of new supply with four projects under construction that will add 540,120 square feet to the metro’s self storage footprint. In 2022, three properties totaling 253,137 square feet were delivered. Based on the forecast, completions in the short term will remain at a similar level. In 2023, four projects are expected to come online totaling 247,409 square feet, followed by three encompassing 247,409 square feet in 2024. Meanwhile in 2025 six facilities are anticipated to be completed adding 452,521 square feet of storage space.

Avest’s Stor-It Self Storage totaling 329,791 square feet is the largest development underway in Boise. The owner financed the construction of the 16-building facility with a construction loan originated by Idaho Central Credit Union in early 2020.

5.    Salt Lake City

Salt Lake City’s self storage market remains popular with developers, even with the moderate construction activity of the past decade, when 6.1 million square feet of storage space came online. As of April, there were seven developments under construction, which will add 470,786 square feet of storage space to the metro’s inventory at full buildout. While only one 73,008-square-foot project came online in the first four months of the year, in 2022 six facilities were completed totaling 322,224 square feet. Based on the forecast, developers are expected to complete five facilities encompassing 311,142 square feet in 2023. Completions are anticipated to increase to seven properties totaling 527,640 square feet in 2024, with 2025 maintaining a similar level at seven storages encompassing 429,923 square feet.

Among Salt Lake City’s self storages under construction the 97,875-square-foot Extra Space Storage is one of the largest. Bank of Utah facilitated the construction of the three-story facility with a $11.5 million construction loan.

6.    Denver

Over the past decade developers completed 139 facilities totaling 11.3 million square feet in Denver. In the first four months of the year, a single RV storage facility came online. This followed a moderate year, when four properties were completed totaling 260,777 square feet. Developers continue to add to Denver’s self storage stock, as of April five storages were under construction encompassing 374,057 square feet. Development activity is expected to pick up slightly over the next few years. Based on the forecast six properties totaling 244,994 square feet will be completed in 2023, six totaling 447,434 square feet in 2024 and seven encompassing 545,906 square feet in 2025.

The 75,402-square-foot Arvada Self Storage in Arvada, Colo., is among the self storage facilities currently underway in the metro. Ventana Capital financed the construction of the three-story facility with a seven-year $16.8 million loan funded by Wells Fargo Bank.

7.    Albuquerque

Developers completed a 60,000-square-foot facility in Albuquerque as of April. Based on the forecast, self storage developers are expected to add 156,206 square feet of space in 2023, 166,811 square feet in 2024 and 91,200 square feet in 2025. The figures remain in line with historical precedence, as Albuquerque’s pipeline produced just 1.6 million square feet of storage space over the past decade.

The metro had three projects totaling 280,999 square feet under construction. The Macritchie Group plans to complete its 100,300-square-foot project in Rio Rancho, N.M., by year’s end. The facility will rise on nearly three acres along New Mexico State Road 528.

8.    Colorado Springs

In Colorado Springs two facilities totaling 106,055 rentable square feet came online in the first four months of the year. The facilities added to the metro’s more than 2 million-square-foot inventory delivered in the past decade. Based on the forecast construction activity will remain on a similar level. 182,860 square feet of space are expected to be delivered in 2023, 167,288 square feet in 2024 and 237,850 square feet in 2025.

As of April, Colorado Springs’ new-construction pipeline included four projects encompassing 171,536 square feet. UTEX Storage Partners’ expansion project is one among them. The second phase will add 22,950 square feet of space to the 82,830-square-foot CubeSmart Self Storage along Nautilus Point.

9.    Reno

Developers completed two storages totaling 155,580 square feet in Reno in the first four months of the year. Over the past decade the metro’s existing inventory expanded by approximately 1.3 million square feet. Based on the forecast, between 2023-2025 completions will amount to roughly 750,000 square feet.

As of April, Reno had two self storage projects underway totaling 145,239 square feet. One of the two is Centennial American Properties’ 80,293-square-foot project. The single-building facility in Sparks, Nev., will have three stories.