Self Storage Metropolitan Statistical Area Reports for 3rd Quarter 2017

S lf St e - orage e ropo an a s ca rea epor M t lit St ti ti l A R t

3 d Q t 2017 r uar er

Kansas City, MO-KS MSA Sample Size SSDS Sample Size Sample as Percent of Total Facilities

138 47%

Market Conditions

Rentable SF Per Person

Conclusion Over-Supplied

MSA

7.87 6.50

National

Supply Ratios

MSA

Top 50 MSA

Diff

Performance at a Glance Households per existing self storage unit

7.8

7.6

0.1

Quarterly

Seasonal

Annual Change

3Q17 vs 2Q17

3Q17 vs 3Q16

Down -5.3% 1.0% Down -3.2% Up

Down -2.2%

Down -0.5%

Asking Rental Rate Physical Occupancy Rate Rent per Available SF (Rental Income)

Up

Up

7.0%

7.0%

Up

Up

5.9%

1.5%

Self-Storage Performance Index (SSPI)®

Asking Rental Rates Non-Climate Controlled - Ground Levels Min

100 120 140 160

Median $41.00 $59.99 $89.00 $144.00 $194.99

Max

Average $40.46 $59.87 $88.14 $141.40 $189.89

25 SF 50 SF 100 SF 200 SF 300 SF

$34.00 $49.99 $70.00 $129.00 $171.00

$49.00 $69.00 $105.99 $159.00 $219.99

60 80 40

Base = 4 Quarter 2003

SDS Index

S

Rent per Available SF 100 SF

3Q16

3Q17

Change

MSA Index

National Index

Median Average

$0.7189 $0.7298

$0.7612 $0.7802

5.9% 6.9%

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

Occupancy

3Q16 85.0% 78.1%

3Q17 92.0% 84.6%

Change

Physical Unit Occupancy Economic Occupancy

8.2% 8.2%

$0 90 $0.40 $0.50 $0.60 $0.70 $0.80 .

Concessions (Percentage Offering)

3Q16 64.7% 74.2%

3Q17 33.3% 43.4%

Change -48.4% -41.5%

MSA

Nationwide

MSA - Income & Expenses Guide Medians MSA

National

$/SF 10 31 .

$/SF 11 35 .

MSA

National

Effective Gross Income

Physical Occupancy

0.59 0.11 0.30 0.49 1.05 0.61 0.18 0.24 0.08 3.65

1.12 0.12 0.35 0.46 1.04 0.67 0.27 0.21 0.07 4.31

Taxes

Insurance

% 76.0% 80.0% 84.0% 88.0% 92.0% 96.0% 72.0

Repairs & Maintenance

Administration

On-Site Maintenance Off-Site Maintenance

Utilities

Advertising Miscellaneous Total Expenses

35.4%

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 17,000 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® 2017.