Self Storage Performance Quarterly Q2 2017

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

Table of Contents

Preface............................................................................................................................................. 1 Section I – Executive Summary ....................................................................................................... 2

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Performance At-a-Glance ........................................................................................................... 2 Section II – Supply and Demand ..................................................................................................... 3

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Supply ......................................................................................................................................... 3

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Construction Pipeline .................................................................................................................. 3

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New Construction Starts ............................................................................................................. 6

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Location of New Construction..................................................................................................... 8

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Demand ...................................................................................................................................... 9 Section III – Market Performance Data 2 nd Quarter 2017.............................................................. 12

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Self Storage Performance Index............................................................................................... 12

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Self Storage Performance Benchmarks ................................................................................... 13

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Concession Trends ................................................................................................................... 13

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Trends in Ten Most Popular Concessions................................................................................ 14

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Elasticity in Demand ................................................................................................................. 16

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Operating Performance – By Region........................................................................................ 18

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Operating Performance – By MSA ........................................................................................... 34

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Median Asking Rental Rates per Square Foot ......................................................................... 35

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Median Physical Occupancy..................................................................................................... 36

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Median Rent per Available Square Foot................................................................................... 37

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Implied Economic Occupancy by Metropolitan Area ................................................................ 38 Section IV – Real Estate Investment Trusts (REITs) Performance Data 1 st Quarter 2017 ........... 39 Section V – Transactional Database 2 nd Quarter 2017.................................................................. 41

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Methodology & Glossary of Terms ........................................................................................... 49

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Self Storage Chart of Accounts ................................................................................................ 52

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Company Profile ....................................................................................................................... 53