We're making a few upgrades to the Inside Self-Storage website, one of which you can enjoy right now. Access the ISS Flash Report right from our home page! If you're not familiar with this monthly offering, published exclusively in ISS magazine, check it out. It is graciously compiled and provided by Ray Wilson of Self Storage Data Services Inc. (SSDS), a long-time supporter of ours.
The Flash Report provides key data regarding a different self-stroage market each month. For example, the most recent installment analyzes the Reno/Sparks, Nev., area. The report gives a brief description of the Metropolitan Statistical Area (demographics, general business climate and any key characteristics). It then delves into storage-specific info: total facilities and units, net rentable area, average facility and unit size, square feet per capita, etc. It also looks at operating statistics such as average occupancies and rental rates. Finally, the the report includes a profit forecast the current and coming year.
This kind of information should be of interest to every storage operator, developer and investor. It's interesting to see how markets throughout the country compare to your own. And if the report happens to highlight one of your particular prospect areas, then bully for you!
SSDS is headquartered in Pasadena, Calif. In addition to our Flash Report, the company produces the Self-Storage Performance Index and other operating data. It also reports on supply-and-demand factors that affect our industry. Look for other articles by Ray in our online archive. For the Flash, visit our home page now!