U.S. Self-Storage Performance Index
|Copyright 2014 by Virgo Publishing.|
|Posted on: 10/01/2005|
After years of gathering data, Pasadena, Calif.-based Self Storage Data Services Inc. (SSDS) has introduced a tool that tracks site-level market conditions and operating results for self-storage. Through an exclusive arrangement with SSDS, Inside Self-Storage will publish the U.S. Self-Storage Performance Index (SSPI) quarterly.
The index allows operators and participants in the capital markets to track industry trends. It measures the health of the domestic market based on key operating statistics from facilities in the country’s 50 largest Metropolitan Statistical Areas (MSAs). Specifically, it uses the asking rental rates on 100-square-foot, climate-controlled units as the benchmark for industry revenues.
Source data is gathered from sources public (SEC filings of self-storage REITS) and private (surveyed and contributed). In the most recent quarter, data from more than 6,600 properties was used in the calculation of the SSPI, which represents a 39 percent sample of the known facilities in the top MSAs.
The SSPI for the quarter ending June 30 was 97.1, up from 93.3 in 1Q 2005 and 91.0 in 2Q 2004. On an annualized basis, the index is up 1.6 percent. The industry’s operating performance—along with the economy—has continued to improve since 4Q 2004. The increase in 2Q 2005 was the largest since 3Q 2004. The index has improved nearly 10 percent (or 8.7 basis points) since hitting its lowest point in 1Q 2003.
Compared to the same quarter last year, the most recent data shows:
Self Storage Data Systems Inc. publishes the Self-Storage Performance Index as well as other statistical data on self-storage operation. It also reports on the supply and demand factors affecting the industry. For more information, call 626.304.2920; visit www.ssdata.net.