Barry Shermans 35 years in Self Storage make him uniquely situated to handle a tough market
Description
Join me for a masterclass on the self-storage industry, led by my colleague and mentor, Barry Sherman. As a licensed architect turned developer with three decades of experience, Barry provides a rare historical perspective on the industry's economic cycles and how to navigate them.
Barry shares his firsthand experience from his first downturn in the mid-'90s, contrasting it with today's market, where dynamic pricing and a shift in financing sources have created new challenges and opportunities. He explains how the massive surge in deliveries in 2023 was a result of projects that started two to three years earlier, demonstrating the industry’s unique development lifecycle.
We delve into the dramatic changes in the operational side of the business, from the tools used for underwriting, which have transitioned from manual processes to data-driven platforms. To the evolution of facility design and building codes. Barry stresses the critical importance of relationships in a competitive market, a lesson he has learned over his 30-year career. The episode concludes with Barry’s insightful and strategic outlook on the future of self-storage, predicting a focus on quality, mixed-use developments, and the reinvention of older assets.
Connect with Thaddeus Campbell:
-
Website: https://s3.partners/
Connect with Barry Sherman:
-
Email: barry@s3.partners
-
Website: s3.partners
United States
