chi-lifestoragefacility (2) Life Storage reported occupancy of 91.0%, an increase of 60 bps from one year ago.

CHICAGO—The self-storage sector has grown steadily in the US for years, but big changes are afoot. The most significant recent shakeup occurred last week, when Public Storage, by far the largest of the industry’s big public REITs, announced it was expanding its third-party management platform. That will put it into direct competition with other major REITs such as Extra Space Storage, CubeSmart and LifeStorage.