The national Self Storage Association (SSA) has entered an agreement with Reis Inc., a provider of commercial real estate market information and analytical tools, as well as three self-storage real estate investment trusts to provide market data to the industry. Under the terms of the arrangement, all participants will provide information on individual self-storage facilities nationwide. The data will include physical and geographical information as well as performance data, such as rents and vacancies by unit mix.
Reis will generate the type of analytics the firm is known for providing in the office, apartment, retail and industrial sectors. Self-storage is a sector that has generated significant interest among Reis clients, according to company CEO Lloyd Lynford. He said Reis looks forward to empowering the industry with supply, demand and rent trends for local markets and submarkets.
The data service will be launched in early 2012. It will be available as a subscription for purchase by self-storage owners and operators through the Reis flagship product, Reis SE; the Reis small-business product, ReisReports.com; and the members-only section of the SSA website, www.selfstorage.org.
The initiative will elevate the self-storage industry within the capital markets and support better operational and investment decisions by self storage professionals, according to SSA CEO Mike Scanlon.
Reis provides commercial real estate market information and analytical tools for subscribers through its subsidiary, Reis Services, which was founded in 1980. Reis maintains a proprietary database containing detailed information on commercial properties in U.S. metropolitan markets and neighborhoods. The database contains information on apartment, office, retail and industrial properties and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions.
Founded in 1975, the SSA is the national not-for-profit trade organization serving self-storage owner-operators, facility managers and vendors. It directly represents approximately 3,000 member companies. It indirectly represents another 3,000 member firms through its affiliation with 25 U.S. state and regional self-storage associations. SSA is also affiliated with industry organizations in Asia, Australia, Europe, Japan, and Latin and South America.