Marcus & Millichap Research Services has released its National Self-Storage Report for 2009 as well as Self-Storage Market Updates for the first half of 2010.
The national report provides insights to key regional trends, including changes in occupancy levels, rent adjustments, inventory growth and an assessment of sales dynamics. The newly released “First Half 2010 Self-Storage Market Updates,” offers analyses of key supply/demand drivers for 25 metropolitan markets nationwide. It covers fundamental market-level trends such as occupancies and rents. Observances and predictions outlined in the reports include:
- While the recession has hampered self-storage operations nationwide, properties in urban and infill areas generally have fared better than their counterparts in suburban and outlying areas.
- The depth of the recession and the expected slow economic recovery will hamper self-storage in 2010, though occupancies appear to be stabilizing in some markets.
- Falling construction levels nationwide will mitigate supply-side risks over the next few years.
Marcus & Millichap Research Services is a division of Marcus & Millichap Real Estate Investment Services, a commercial real estate investment services firm. As a service to its clients, Marcus & Millichap provides research reports through the Research Services page of MarcusMillichap.com. Additional information on a particular self-storage market can be had by contacting a local office and speaking with one of the company’s investment specialists.