State of the Industry
As a magazine that caters exclusively to the self-storage business, Inside Self-Storage receives frequent inquiries from readers and vendors regarding the state of the industry. People want to know about the stength of potential investments, the saturation of specific geographic markets, the demand for products and services in various states, etc. While we strive to provide the most in-depth information on these topics, ISS is not a research firm; so we often refer to outside sources for the most timely, comprehensive reports.
We've retained one such company for the upcoming ISS Expo in Reno, Nev. On July 19th, day one of the show, Chris Sonne of Self Storage Economics will present a keynote address on the overall state of the storage industry. He'll present data on market trends and provide submarket profiles to help attendees understand present-day supply, demand and equilibrium in this business. That's essential information in a field where competition becomes increasingly cut-throat.
A little background on SSE: The company specializes in gathering and providing real estate information and research regarding self-storage property. It has actually analyzed and forecast market conditions in all 50 states as well as the top 100 metropolitan markets. The company has also completed analyses on local trade areas, which are the best indicators for determining the competitive positions of specific projects.
If you're an investor or storage owner looking to build or acquire property, or even a manager seeking to better understand market trends, join us in Reno for Sonne's keynote. You'll be glad you did.
In the mean time, you might want to check out this incredibly informative article Sonne published in the June 2006 issue of The RMA Journal: "Lending to the Self-Storage Industry: Cinderella Has Her Day," which describes the background and market conditions of the asset class, and explains approaches to the self-storage appraisal.
Happy Friday. Is it Miller time yet?
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