Self Storage Combined MSAs Report Q4 2019

Self-Storage Metropolitan Statistical Area Report

4th Quarter 2019

Sacramento--Arden-Arcade--Roseville, CA MSA Sample Size SSDS Sample Size 142 Sample as Percent of Total Facilities 44%

Market Conditions

Rentable SF Per Person

Conclusion

7.56 6.50

Over-Supplied

MSA

National

Supply Ratios

MSA

Top 50 MSA

Diff

Households per existing self storage unit

5.6

7.6

-2.0

Performance at a Glance

Quarterly

Seasonal

Annual Change

4Q19 vs 3Q19

4Q19 vs 4Q18

Down -3.8%

Up

Up

Asking Rental Rate

0.8%

0.2%

No change

Up

Up

Physical Occupancy Rate Rent per Available SF (Rental Income)

0.0% Down -4.5%

2.0%

2.0%

Up

Up

0.5%

0.1%

Self-Storage Performance Index (SSPI)®

Asking Rental Rates Non-Climate Controlled - Ground Levels Min

100 120 140 160 180

Median $55.00 $75.00 $125.00 $190.00 $250.00

Max

Average $53.26 $76.87 $121.59 $189.04 $248.08

$44.00 $64.00 $105.00 $174.00 $224.00

$61.00 $90.00 $135.00 $210.00 $270.00

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

$1.1044 $1.1232

$1.1099 $1.0683

0.5% -4.9%

Median Average

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

Occupancy

4Q18 92.0% 89.1%

4Q19 94.0% 88.8%

Change

$0.50 $0.60 $0.70 $0.80 $0.90 $1.00 $1.10 $1.20

2.2% -0.3%

Physical Unit Occupancy Economic Occupancy

Concessions (Percentage Offering)

4Q18

4Q19

Change

28.5% 51.5%

40.8% 56.8%

43.4% 10.3%

MSA

Nationwide

MSA - Income & Expenses Guide Medians MSA

National

$/SF 8.78

$/SF 11.35

MSA

National

Effective Gross Income

Physical Occupancy

0.63 0.30 0.28 0.38 1.10 0.52 0.17 0.17 0.08

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

3.63

4.31

41.3%

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.