Self Storage Performance Quarterly 1Q17

Self Storage Performance Quarterly

Operating Performance – By MSA MOST IMPROVED AND WATCH LIST MARKETS

The intent of the Most Improved and Watch List Markets is to identify those markets that demonstrate the most significant change during the current year. The ranking is based on the highest and lowest aggregate growth scores. The growth score is calculated by adding the percentage change in asking rental rates and physical occupancy for the same period. The a ggregate growth score is calculated as a moving average of the quarterly growth scores for the current and three preceding quarters. The higher the aggregate growth scores for a market, the greater the likelihood that facility earnings will improve. Conversely, the lower the aggregate growth score, the greater the likelihood is for adverse change in facility earnings. Hence, our Watch List Markets are those markets with the lowest aggregate growth scores. As of quarter end, the results are as follows: Six Most Improved Markets Aggregate Growth Score 1. Kansas City, MO-KS MSA 17.0 2. Houston-Baytown-Sugar Land, TX MSA 14.7 3. Austin-Round Rock, TX MSA 14.3 4. San Francisco-Oakland-Fremont, CA MSA 14.0 5. Jacksonville, FL MSA 11.1 6. Riverside-San Bernardino-Ontario, CA MSA 11.1

Watch List Markets (Highest Negative Scores)

Aggregate Growth Score

1. Denver-Aurora, CO MSA

-5.9 -2.2 -1.1 -0.1

2. Minneapolis-St. Paul-Bloomington, MN-WI MSA 3. Milwaukee-Waukesha-West Allis, WI MSA 4. Hartford-West Hartford-East Hartford, CT MSA

5. Birmingham-Hoover, AL MSA

0.3 0.4

6. New Orleans-Metairie-Kenner, LA MSA

Source: Cushman & Wakefield, Inc. The Self Storage Performance Quarterly , a publication of Cushman & Wakefield, Inc., 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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