Self Storage Performance Quarterly Q1 2016

Change in Rent Per Avail. SF

Rental Rate Change

Occupancy Change

Key Seasonal Change in MSAs in West Regions

Mountain Division

DEN Denver-Aurora, CO MSA LVP Las Vegas-Paradise, NV MSA PHO Phoenix-Mesa-Scottsdale, AZ MSA

4.0% -6.0% -3.3% 1.2% -4.4% -2.1% 2.4% 5.7% 11.6% 8.4% -8.0% -2.7% 7.1% -5.1% -0.4% 13.6% 0.0% 15.6% 0.0% 0.0% -1.2% 11.6% 4.0% 18.1% 11.1% 0.0% 12.1% 6.5% -6.3% -2.6% 8.1% -1.7% 4.8% 9.1% 0.0% 8.5%

SLC Salt Lake City, UT MSA

Pacific Division

LAX Los Angeles-Long Beach-Santa Ana, CA MSA POR Portland-Vancouver-Beaverton, OR-WA MSA SAC Sacramento-Arden-Arcade-Roseville, CA MSA SDC San Diego-Carlsbad-San Marcos, CA MSA SFO San Francisco-Oakland-Fremont, CA MSA SJS San Jose-Sunnyvale-Santa Clara, CA MSA SEA Seattle-Tacoma-Bellevue, WA MSA RIV Riverside-San Bernardino-Ontario, CA MSA

Note : Light Blue shading denotes that MSA is split between NCREIF Regions and or Divisions.

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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