Self Storage Performance Quarterly Q3 2019

Self Storage Performance Quarterly

Summary of Findings

Self-Storage Performance Index – The SSPI increased 2.0% compared to 2 nd Quarter 2019 and increased 1.4% to compared to 3 rd Quarter 2018. The SSPI now stands at 135.0. Asking Rental Rates – Asking rents stayed the same 0.0% compared to 2 nd Quarter 2019 and increased 1.4% compared to 3 rd Quarter 2018; and the REITS decreased 5.6% compared to last quarter and stayed the same 0.0% from 3 rd Quarter 2018. Physical Occupancy – Median physical occupancy increased 0.2% compared to 2 nd Quarter 2019, also increased 1.0% over the 3 rd Quarter 2018, and REIT decreased 0.8% compared to last quarter and decreased 1.3% compared to last year. Concessions – The use of concessions stayed the same this quarter. The cost of concessions decreased slightly. The facilities offering concessions change was 0.0% from last Quarter and increased 0.7% from year ago, the Concession Cost Index is at 104.7 in 3 rd Quarter 2019 compared to the 111.3 in 2 nd Quarter 2019. Rent per Available Square Foot – RPASF for the benchmark 100 square foot non-climate controlled units are up 0.7% from 2 nd Quarter 2019, and up 1.9% compared to 3 rd Quarter 2018 and the REITS decreased 5.3% compared to last quarter and decreased 3.0% from 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 2,090 facilities owned by the four REITs and 7,909 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® 2019.

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