Self Storage Combined MSAs Report Q4 2019

Self-Storage Metropolitan Statistical Area Report

4th Quarter 2019

Oklahoma City, OK MSA Sample Size SSDS Sample Size Sample as Percent of Total Facilities

122 50%

Market Conditions

Rentable SF Per Person

Conclusion

10.12

Over-Supplied

MSA

6.50

National

Supply Ratios

MSA

Top 50 MSA

Diff

Households per existing self storage unit

5.8

7.6

-1.8

Performance at a Glance

Quarterly

Seasonal

Annual Change

4Q19 vs 3Q19

4Q19 vs 4Q18

Down -3.1% Down -1.0% Down -2.1%

No change

No change

Asking Rental Rate

0.0%

0.0%

Up

Up

Physical Occupancy Rate Rent per Available SF (Rental Income)

7.0%

7.0%

Up

Up

11.0%

2.6%

Self-Storage Performance Index (SSPI)®

Asking Rental Rates Non-Climate Controlled - Ground Levels Min

140

Median $30.00 $40.00 $63.00 $105.00 $143.00

Max

Average $30.56 $39.68 $63.08 $104.55 $140.96

120

$25.00 $30.00 $52.00 $90.00 $120.00

$39.00 $49.00 $75.00 $119.95 $159.00

25 SF 50 SF

100

100 SF 200 SF 300 SF

80

Base = 4 Quarter 2003

60 SSDS Index

Rent per Available SF 100 SF

4Q18

4Q19

Change

MSA Index

National Index

$0.4677 $0.5078

$0.5192 $0.5226

11.0%

Median Average

2.9%

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

Occupancy

4Q18 82.0% 74.2%

4Q19 89.0% 82.4%

Change

$0.40 $0.50 $0.60 $0.70 $0.80 $0.90 $1.00

8.5%

Physical Unit Occupancy Economic Occupancy

11.0%

Concessions (Percentage Offering)

4Q18

4Q19

Change -16.7% 10.3%

67.9% 51.5%

56.6% 56.8%

MSA

Nationwide

MSA - Income & Expenses Guide Medians MSA

National

$/SF 9.44

$/SF 11.35

MSA

National

Effective Gross Income

Physical Occupancy

0.65 0.10 0.30 0.44 1.03 0.53 0.26 0.20 0.05

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

3.56

4.31

37.7%

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.