Self Storage Performance Index Shows Industry Standing Its Ground

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Self Storage Data Services Inc. (SSDS) has revealed the findings of its most recent Self Storage Performance Index (SSPI), a quarterly tool that tracks site-level market conditions and operating results for self-storage. Based on the operating performance of more than 5,500 facilities nationwide, it appears the storage industry is holding its ground in the face of mounting challenges from an economy in crisis.
 
“The index has remained nearly flat for the past three quarters, and many markets that have demonstrated softness in the past are showing signs of recovery,” said SSDS President Charles Ray Wilson. “Facility owners in the nation’s 50 largest markets were able to increase median asking rental rates in the third quarter of 2008, compared to the same quarter last year. While the increase came at the cost of slightly less physical occupancy and increased rental concessions, the benchmark ‘rent collected per occupied square foot’ declined only slightly.”
 
The SSPI 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.
 
Headquartered in Los Angeles, SSDS is the nation's only provider of quarterly self-storage operating performance statistics. For more information, visit www.ssdata.net.
 
Wilson will present an opening keynote address at the Inside Self-Storage Expo in Nashville, Tenn., on Oct. 8. Wilson will also conduct two educational seminars as part of the conference: “Self-Storage Valuation: Trends and Risks” and “Industry and Supply and Demand in Florida: Problems in Paradise?” For show details, visit www.insideselfstorageexpo.com.
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