Self Storage Performance Quarterly Q4 2016

Self Storage Performance Quarterly

SSDS CONCESSION INDEX

Self Storge Concession Index

100 105 110 115 120 125

105.5

Index

80 85 90 95

Base: 4th Quarter 2003 = 100

Trends in Ten Most Popular Concessions PERCENT OF FACILITIES OFFERING EACH TYPE

Quarterly Seasonal Annual Absolute Change (%)

Type of Rent Concession

4Q15 1Q16 2Q16 3Q16 4Q16

Various Specials 1/2 Off 1st Month $1.00 Move-In 1/2 Month Free 1st Month Free 1 Month Free

58.74% 66.44% 54.04% 50.78% 32.56% -18.22% -26.18% -6.54% 9.14% 8.30% 8.82% 8.52% 12.10% 3.58% 2.96% 0.74% 6.18% 5.39% 6.93% 5.75% 6.25% 0.50% 0.07% 0.02% 2.58% 1.43% 1.76% 2.83% 5.93% 3.10% 3.35% 0.84% 1.23% 3.32% 1.05% 0.63% 2.96% 2.33% 1.73% 0.43% 0.42% 1.16% 0.89% 1.47% 1.70% 0.23% 1.28% 0.32% 2.40% 1.17% 0.84% 0.76% 1.65% 0.89% -0.75% -0.19% 0.25% 0.05% 0.04% 2.21% 0.55% -1.66% 0.30% 0.08% 0.30% 0.05% 0.05% 0.33% 0.29% -0.04% -0.01% 0.00% 0.22% 0.15% 0.55% 0.34% 0.22% -0.12% 0.00% 0.00% 1.17% 0.62% 1.75% 0.59% 10.00% 9.41% 8.83% 2.21% 17.37% 11.92% 23.28% 25.79% 25.79% 0.00% 8.42% 2.11%

1 Month Free w/ One-way

1/2 Off 2nd Month 2nd Month Free

10% Discount

Other Concessions

None

Total

100.0% 100.0% 100.0% 100.0% 100.00%

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

Cushman & Wakefield | Valuation & Advisory

14