Self Storage Combined MSAs Report Q4 2019

Self-Storage Metropolitan Statistical Area Report

4th Quarter 2019

Dallas-Fort Worth-Arlington, TX MSA Sample Size SSDS Sample Size

665 54%

Sample as Percent of Total Facilities

Market Conditions

Rentable SF Per Person

Conclusion

7.88 6.50

Over-Supplied

MSA

National

Supply Ratios

MSA

Top 50 MSA

Diff

Households per existing self storage unit

6.0

7.6

-1.6

Performance at a Glance

Quarterly

Seasonal

Annual Change

4Q19 vs 3Q19

4Q19 vs 4Q18

No change

Down -5.6%

Down -1.4%

Asking Rental Rate

0.0% Down -1.0% Down -0.4%

No change

No change

Physical Occupancy Rate Rent per Available SF (Rental Income)

0.0% Down -4.8%

0.0% Down -1.2%

Self-Storage Performance Index (SSPI)®

Asking Rental Rates Non-Climate Controlled - Ground Levels Min

100 120 140 160 180

Median $39.00 $55.00 $84.00 $139.40 $200.00

Max

Average $39.97 $56.52 $86.95 $143.41 $211.34

$29.00 $45.00 $73.95 $120.00 $177.75

$49.00 $66.00 $99.00 $159.95 $239.00

25 SF 50 SF

100 SF 200 SF 300 SF

60 80

Base = 4 Quarter 2003

SSDS Index

Rent per Available SF 100 SF

4Q18

4Q19

Change

MSA Index

National Index

$0.7489 $0.7604

$0.7129 $0.7308

-4.8% -3.9%

Median Average

Rent Per Available Square Foot (based on 100 square foot units)

Occupancy

4Q18 90.0% 83.2%

4Q19 90.0% 83.9%

Change

$0.50 $0.60 $0.70 $0.80 $0.90 $1.00

0.0% 0.8%

Physical Unit Occupancy Economic Occupancy

Concessions (Percentage Offering)

4Q18

4Q19

Change

55.5% 51.5%

57.4% 56.8%

3.5%

MSA

10.3%

Nationwide

MSA - Income & Expenses Guide Medians MSA

National

$/SF 9.89

$/SF 11.35

MSA

National

Effective Gross Income

Physical Occupancy

1.37 0.09 0.26 0.38 0.93 0.59 0.19 0.20 0.11

1.12 0.12 0.35 0.46 1.04 0.67 0.27 0.21 0.07

Taxes

Insurance

72.0% 76.0% 80.0% 84.0% 88.0% 92.0%

Repairs & Maintenance

Administration

On-Site Management Off-Site Management

Utilities

Advertising

Miscellaneous

Total Expenses

4.12

4.31

41.7%

38.0%

Expense Ratio

MSA

National

The data and findings contained in this report are the result of operating data collected each quarter from more than 18,000 self- storage facilities located in the United States. Source: Cushman & Wakefield, Inc. This publication is intended solely for use by paid subscribers. Reproduction or distribution in whole or part without written permission is prohibited and subject to legal action. Copyright® 2020.