Self Storage Performance Quarterly Q2 2016

Self Storage Performance Quarterly

New Construction Starts The graph below illustrates the historical trend in the total number of new construction starts including alterations, renovations and interior construction, both within and outside major metropolitan areas.

Total New Construction - Nationwide

60

4000

3500

50

18

3000

18

16

10

40

2500

20

17

30

2000

11

8

22

Number of Starts

1500

4

11

13

20

Square Footage (000)

39

37

8

36

35

1000

27

25

22

22

10

20

16

500

15

14

14

0

0

2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

Starts New

Alterations,Additions, or Renovations

Total Square Feet

Total Construction Starts

Top 50 MSAs

Secondary Markets

Total Nationwide (Combined)

New Construction

24

15

39

Alterations/Renovations, Interior Completions

5

5

10

Total Number of Starts

29

20

49

“New” Construction Starts Characteristics Facility Size (average gross sq ft)

82,627 $70.96

96,948 $61.59

88,135 $67.00

Direct Construction Cost (per sq ft) Value of Direct Construction Cost

$140,720,000

$89,565,000

$230,285,000

Total Gross Square Feet

1,983,052

1,454,215

3,437,4267

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

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