Self Storage Performance Quarterly Q2 2016

Self Storage Performance Quarterly

Summary of Findings Self-Storage Performance Index – The SSPI increased 12.0% to 114.9 compared to 2 nd quarter 2015. Asking Rental Rates – Asking rents increased 8.8% compared to 2 nd quarter 2015 and 4.2% compared to 1 st quarter 2016; with the REITS increasing 7.0% compared to last year. Physical Occupancy – Median physical occupancy increased 1.0% compared to 1 st quarter 2016 and remained the same 0.0% compared to 2 nd quarter 2015, but REITS increased 1.5% compared to last year. Concessions – The use and cost of concessions is even stronger this quarter. For example, facilities offering concessions is down from one year ago, although the Concession Cost Index is at 114.5 in 2 nd quarter 2016 compared to the 122.5 in 1 st quarter 2016 and is up 2.4 from last year. Rent per Available Square Foot – RPASF for the benchmark 100 square foot non-climate controlled units are up 9.5% from last year, and up 6.9% from last quarter. Also, the REITS increased 8.7% 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 2,018 facilities owned by the four REITs and 7,662 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 ® 2016

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