Self Storage Metropolitan Statistical Area Reports for 3rd Quarter 2017

S lf St e - orage e ropo an a s ca rea epor Sacramento--Arden-Arcade--Roseville, CA MSA Sample Size SSDS Sample Size 159 Sample as Percent of Total Facilities 50% Market Conditions Rentable SF Per Person Conclusion MSA 7.56 Over-Supplied National 6.50 Supply Ratios MSA Top 50 MSA M t lit St ti ti l A R t

3 d Q t 2017 r uar er

Diff -2.0

Performance at a Glance Households per existing self storage unit

5.6

7.6

Quarterly

Seasonal

Annual Change

3Q17 vs 2Q17

3Q17 vs 3Q16

Down -2.4% Down -4.4% Down -3.0%

Up

Up

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

13.0%

3.1%

Up

Up

13.0%

13.0%

Up

Up

33.3%

7.5%

Self-Storage Performance Index (SSPI)®

Asking Rental Rates Non-Climate Controlled - Ground Levels Min

190

Median $58.00 $80.00 $125.00 $191.00 $245.00

Max

Average $56.27 $79.06 $123.92 $188.32 $237.43

140

25 SF 50 SF 100 SF 200 SF 300 SF

$49.99 $70.00 $110.00 $175.00 $219.99

$65.00 $89.00 $140.00 $210.00 $259.00

90

Base = 4 Quarter 2003

SDS Index

40

S

Rent per Available SF 100 SF

3Q16

3Q17

Change

MSA Index

National Index

Median Average

$0.8235 $0.8583

$1.0976 $1.0806

33.3% 25.9%

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

Occupancy

3Q16 81.0% 76.3%

3Q17 94.0% 90.0%

Change 16.0%

Physical Unit Occupancy Economic Occupancy

$1 20 $0.40 $0.60 $0.80 $1.00 .

18.0%

Concessions (Percentage Offering)

3Q16 53.3% 74.2%

3Q17 42.8% 43.4%

Change -19.8% -41.5%

MSA

Nationwide

MSA - Income & Expenses Guide Medians MSA

National

$/SF 8 78 . 0.63 0.30 0.28 0.38 1.10 0.52 0.17 0.17 0.08 3.63

$/SF 11 35 .

MSA

National

Effective Gross Income

Physical Occupancy

1.12 0.12 0.35 0.46 1.04 0.67 0.27 0.21 0.07 4.31

Taxes

Insurance

% 74.0% 78.0% 82.0% 86.0% 90.0% 94.0% 98.0% 70.0

Repairs & Maintenance

Administration

On-Site Maintenance Off-Site Maintenance

Utilities

Advertising Miscellaneous Total Expenses

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 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.

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