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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. Copyright® 2017
Cushman & Wakefield | Valuation & Advisory
38
Implied Economic Occupancy by Metropolitan Area
Economic Occupancy
– Economic occupancy as shown below reflects the difference between asking rental
rates and rents per available square foot. It takes into consideration the impact physical vacancy and the cost
of offering concessions. It does not reflect the cost of bad debt, ancillary income or the impact of tenants who
pay something other than asking rental rate.
MSA vs
National
Average
2Q17
%Change
Absolute
Change
%Change
Absolute
Change
Absolute
Change
Atlanta-Sandy Springs-Marietta, GA MSA
78.6%
6.9% 5.1% 3.0% 2.3% -4.4%
Austin-Round Rock, TXMSA
83.5%
12.1% 9.0% 11.9% 8.9% 0.5%
Baltimore-Towson, MD MSA
77.8%
8.5% 6.1% 7.3% 5.3% -5.2%
Birmingham-Hoover, AL MSA
74.2%
1.4% 1.0% 0.4% 0.3% -8.8%
Boston-Cambridge-Quincy, MA-NH MSA
74.8%
-3.6% -2.8% 4.3% 3.1% -8.2%
Buffalo-Cheektowaga-Tonawanda, NY MSA
74.8%
-3.0% -2.3% 1.5% 1.1% -8.2%
Charlotte-Gastonia-Concord, NC-SC MSA
77.6%
-0.6% -0.5% -1.0% -0.8% -5.4%
Chicago-Naperville-Joliet, IL-IN-WI MSA
76.9%
3.2% 2.4% 5.5% 4.0% -6.1%
Cincinnati-Middletown, OH-KY-IN MSA
76.7%
-1.7% -1.3% -1.3% -1.0% -6.3%
Cleveland-Elyria-Mentor, OH MSA
76.2%
2.4% 1.8% 4.8% 3.5% -6.8%
Columbus, OH MSA
87.6%
17.9% 13.3% 16.6% 12.5% 4.6%
Dallas-Fort Worth-Arlington, TXMSA
84.4%
1.7% 1.4% 1.4% 1.2% 1.4%
Denver-Aurora, CO MSA
86.6%
14.1% 10.7% 13.9% 10.6% 3.6%
Detroit-Warren-Livonia, MI MSA
77.0%
3.2% 2.4% 2.5% 1.9% -6.0%
Hartford-West Hartford-East Hartford, CT MSA
75.7%
-0.3% -0.2% 0.9% 0.7% -7.3%
Houston-Baytown-Sugar Land, TXMSA
80.1%
-1.5% -1.2% -1.1% -0.9% -2.9%
Indianapolis, IN MSA
86.5%
14.3% 10.8% 21.3% 15.2% 3.5%
Jacksonville, FL MSA
83.4%
11.3% 8.5% 15.5% 11.2% 0.4%
Kansas City, MO-KS MSA
82.8%
13.9% 10.1% 10.1% 7.6% -0.2%
Las Vegas-Paradise, NV MSA
84.7%
-1.1% -0.9% 15.2% 11.2% 1.7%
Los Angeles-Long Beach-Santa Ana, CA MSA
87.1%
1.4% 1.2% 20.1% 14.6% 4.1%
Louisville, KY-IN MSA
75.0%
2.3% 1.7% 2.7% 2.0% -8.0%
Memphis, TN-MS-AR MSA
81.4%
-2.7% -2.3% 4.5% 3.5% -1.6%
Miami-Fort Lauderdale-Miami Beach, FL MSA
73.3%
-6.0% -4.7% -2.9% -2.2% -9.7%
Milwaukee-Waukesha-West Allis, WI MSA
79.4%
8.9% 6.5% 7.9% 5.8% -3.6%
Minneapolis-St. Paul-Bloomington, MN-WI MSA
88.1%
7.3% 6.0% 16.5% 12.5% 5.1%
Nashville-Davidson-Murfreesboro, TN MSA
87.0%
9.7% 7.7% 20.5% 14.8% 4.0%
New Orleans-Metairie-Kenner, LA MSA
74.0%
1.4% 1.0% 2.1% 1.5% -9.0%
New York-Newark-Edison, NY-NJ-PA MSA
82.4%
5.1% 4.0% 4.3% 3.4% -0.6%
Oklahoma City, OK MSA
77.8%
1.3% 1.0% 11.0% 7.7% -5.2%
Orlando, FL MSA
77.2%
-3.1% -2.5% 4.0% 3.0% -5.8%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA
76.0%
-2.8% -2.2% 2.2% 1.6% -7.0%
Phoenix-Mesa-Scottsdale, AZ MSA
81.8%
0.2% 0.2% 13.9% 10.0% -1.2%
Pittsburgh, PA MSA
83.9%
8.3% 6.4% 10.5% 8.0% 0.9%
Portland-Vancouver-Beaverton, OR-WA MSA
83.4%
17.6% 12.5% 10.8% 8.1% 0.4%
Providence-New Bedford-Fall River, RI-MA MSA
81.0%
1.1% 0.9% 5.1% 3.9% -2.0%
Richmond, VA MSA
79.2%
6.2% 4.6% 8.2% 6.0% -3.8%
Riverside-San Bernardino-Ontario, CA MSA
80.2%
-4.4% -3.7% 10.9% 7.9% -2.8%
Rochester, NY MSA
73.0%
-3.4% -2.6% -7.0% -5.5% -10.0%
Sacramento-Arden-Arcade-Roseville, CA MSA
90.5%
16.2% 12.6% 21.2% 15.8% 7.5%
Salt Lake City, UT MSA
76.0%
-3.1% -2.4% -0.3% -0.2% -7.0%
San Antonio, TXMSA
76.9%
4.3% 3.2% 3.2% 2.4% -6.1%
San Diego-Carlsbad-San Marcos, CA MSA
85.4%
5.3% 4.3% 16.3% 12.0% 2.4%
San Francisco-Oakland-Fremont, CA MSA
84.8%
-1.3% -1.1% 17.6% 12.7% 1.8%
San Jose-Sunnyvale-Santa Clara, CA MSA
84.6%
6.1% 4.9% 7.5% 5.9% 1.6%
Seattle-Tacoma-Bellevue, WA MSA
86.8%
4.0% 3.3% 18.9% 13.8% 3.8%
St. Louis, MO-IL MSA
77.6%
1.0% 0.8% 4.3% 3.2% -5.4%
Tampa-St. Petersburg-Clearwater, FL MSA
80.9%
-5.4% -4.6% 5.1% 3.9% -2.1%
Virginia Beach-Norfolk-Newport News, VA-NC MSA
75.8%
4.0% 2.9% -0.3% -0.2% -7.2%
Washington-Arlington-Alexandria, DC-VA-MD-WV MSA
72.6%
-6.4% -5.0% -11.6% -9.5% -10.4%
Top 50 MSAs
Quarterly
Seasonal
Econonic
Occupancy