Self-Storage Market Conditions Report 2013
Due to the number of variables involved, determining whether a self-storage market is oversaturated with competition or ripe for development is tricky business. This report, prepared by Cushman & Wakefield, examines the market conditions in the top 50 U.S. Metropolitan Statistical Areas (MSAs) to determine whether they are under supplied, at equilibrium or over supplied.
To generate the data, Cushman & Wakefield applied a proprietary econometric demand model developed by its Self Storage Industry Group (SSIG). Determinants of the market relate to the forces of supply and demand. Demand generators are focused on population, percentage of renters, average household size and average household income. The dependent variable is square feet of self-storage per person. The independent variables are the demographic variables by MSA.
Each market is organized by the conclusion of its market conditions and compared to a rent and occupancy index. Development information identifying new builds and renovations/additions is also included for each MSA.
The data in this report is from the third quarter of 2013 and comes from the Self Storage Data Services database at Cushman & Wakefield. It’s sample size is 8,645 facilities, an estimated 49.2 percent of total supply of the MSAs and representing about 18.8 percent of the total stock in the United States. The data will appeal to self-storage owners, operators, developers, investors and analysts.
Cushman & Wakefield is among the world's largest privately held commercial real estate services firms. The firm's Valuation & Advisory Division, which includes SSIG, is one of the largest real estate valuation and consulting organizations in the world. Cushman & Wakefield reports are useful data and analysis tools for bankers, lenders, real estate investment trusts, Wall Street advisory companies, brokers and other professionals.
Please download Cushman & Wakefield's Methodology Summary and Glossary of Terms.