Self Storage Performance Quarterly Q1 2016

Self-Storage Performance Benchmarks

Change

National Benchmarks

1Q15 2Q15 3Q15 4Q15 1Q16 Quarterly Seasonal Annual

Median Rental Rates/Sq.Ft. Non-Climate-Controlled Units Ground Level 1

$ 0.9000 $ 0.9100 $ 0.9500 $ 0.9500 $ 0.9500 $ 1.1000 $ 1.1000 $ 1.1400 $ 1.1500 $ 1.1500

0.0% 5.6% 1.3% 0.0% 4.5% 1.1%

Upper Level

Climate-Controlled Units Ground Level 1

$ 1.2500 $ 1.2500 $ 1.3000 $ 1.2900 $ 1.2900 $ 1.3000 $ 1.3000 $ 1.3100 $ 1.3000 $ 1.3100

0.0% 3.2% 0.8% 0.8% 0.8% 0.2%

Upper Level

Median Occupancy 2

84.0% 82.0% 84.0% 83.0% 81.0% -2.0% -3.0% -0.8%

Rent Per Available Sq.Ft.

$ 0.6787 $ 0.6730 $ 0.7229 $ 0.7088 $ 0.6895 -2.7% 1.6% 0.4%

1 The differential between ground- and upper-level rental rates is skewed by the disproportionate number of single-level facilities in the population and sample of self-storage facilities. Facilities with upper-level units tend to be in higher density,

2 The aggregated median physical occupancy statistic is not meaningful by itself. Please refer to the detailed occupancy statistics by submarket found in Table 3.

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® 2016 2020 Main Street, Suite 1000, Irvine, California 92614 Phone: 626-304-2920 Fax: 626-304-2921 www.ssdata.net

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