Self Storage Performance Quarterly 1Q17

Self Storage Performance Quarterly

Summary of Findings Self-Storage Performance Index – The SSPI increased 14.0% to 118.3 compared to 1 st quarter 2016. Asking Rental Rates – Asking rents increased 5.3% compared to 1 st quarter 2016 and 0% compared to 4 th quarter 2016; with the REITS having no change 0.0% compared to last year. Physical Occupancy – Median physical occupancy increased 3.8% compared to 4 th quarter 2016 and increased 5.5% compared to 1 st quarter 2016, and REITS decreased 1.0% compared to last year. Concessions – The use and cost of concessions is stronger this quarter. For example, facilities offering concessions is down from one year ago, although the Concession Cost Index is at 115.8 in 1 st quarter 2017 compared to the 105.5 in 4 th quarter 2016 and is down 17.8 % from last year. Rent per Available Square Foot – RPASF for the benchmark 100 square foot non-climate controlled units are up 14.5% from last year, and up 4.1% from last quarter. But, the REITS decreased 0.1% compared to last year. Sampling Statistics – SSDS’ sampling technique assures that the number of REIT facilities in each market’s sample represents the approximate percentage of actual REIT facilities in that given market. In this quarter report, data was obtained from 2,009 facilities owned by the four REITs and 7,734 facilities privately owned. Thus, the percentage of REIT facilities included in this quarter’s sample is a reasonable proportion to their market share in these top 50 markets.

Sincerely, Cushman & Wakefield Self Storage Data Services Self Storage Industry Group

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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