Self Storage Performance Quarterly Q4 2016

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Self Storage Performance Quarterly
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. Copyri ght® 2016
Cushman & Wakefield | Valuation & Advisory iii
Summary of Findings
Self-Storage Performance Index – The SSPI increased 7.2% to 121.4 compared to 4th quarter 2015.
Asking Rental Rates – Asking rents increased 5.3% compared to 4th quarter 2015 and 0% compared to 3rd
quarter 2016; with the REITS decreasing 1.7% compared to last year.
Physical Occupancy – Median physical occupancy increased 1.7% compared to 3rd quarter 2016 and
decreased 0.3% compared to 4 th quarter 2015, and REITS decreased 0.6% compared to last year.
Concessions – The use and cost of concessions is softer this quarter. For example, facilities offering
concessions is down from one year ago, although the Concession Cost Index is at 105.5 in 4th quarter 2016
compared to the 109.5 in 3 rd quarter 2016 and is down 16.6 from last year.
Rent per Available Square Foot – RPASF for the benchmark 100 square foot non-climate controlled units
are up 7.0% from last year, and up 2.7% from last quarter. But, the REITS decreased 2.0% 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 1,950 facilities owned by the four REITs and 7,701 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