Self Storage Data Services Inc., a Los Angeles-based provider of self-storage operating-performance statistics, released its rental-activity report for February 2010, which indicates positive unit absorption for the second month running.
Based on the rental activity of approximately 850,000 self-storage units nationwide, SSDS reported that demand, down slightly in February 2010 vs. the same month last year, continued to improve over January. All polled regions experienced modest increases in physical occupancy, though the West was the only region to experience an increase in new demand (move-ins) when compared to February 2009. According to SSDS, the stabilization of facility occupancy was more attributable to a slowdown in the rate of move-outs than an increase in new tenants.
The complete Self Storage Performance Quarterly report is available only to subscribers and can be downloaded at SSdata.net.