39 / 61
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. Copyright ® 2017
Cushman & Wakefield | Valuation & Advisory
34
Operating Performance – By MSA
MOST IMPROVED AND WATCH LIST MARKETS
The intent of the Most Improved and Watch List Markets is to identify those markets that demonstrate
the most significant change during the current year. The ranking is based on the highest and lowest
aggregate growth scores.
The
growth score
is calculated by adding the percentage change in asking rental rates and physical
occupancy for the same period.
The a
ggregate growth score
is calculated as a moving average of the quarterly growth scores for the
current and three preceding quarters.
The higher the aggregate growth scores for a market, the greater the likelihood that facility earnings
will improve. Conversely, the lower the aggregate growth score, the greater the likelihood is for
adverse change in facility earnings. Hence, our Watch List Markets are those markets with the lowest
aggregate growth scores. As of quarter end, the results are as follows:
Six Most Improved Markets
Aggregate Growth Score
1. Kansas City, MO-KS MSA
17.0
2. Houston-Baytown-Sugar Land, TX MSA
14.7
3. Austin-Round Rock, TX MSA
14.3
4. San Francisco-Oakland-Fremont, CA MSA
14.0
5. Jacksonville, FL MSA
11.1
6. Riverside-San Bernardino-Ontario, CA MSA
11.1
Watch List Markets (Highest Negative Scores)
Aggregate Growth Score
1. Denver-Aurora, CO MSA
-5.9
2. Minneapolis-St. Paul-Bloomington, MN-WI MSA
-2.2
3. Milwaukee-Waukesha-West Allis, WI MSA
-1.1
4. Hartford-West Hartford-East Hartford, CT MSA
-0.1
5. Birmingham-Hoover, AL MSA
0.3
6. New Orleans-Metairie-Kenner, LA MSA
0.4