Commercial real estate firm Marcus & Millichap has released its semi-annual national self-storage report for the second half of 2019. The four-page PDF offers analytical insight on a national and regional level. Produced by the firm’s National Self-Storage Group and released through its research-services division, it’s available for free download from the company website.
The publication examines the impact of construction, employment, rate and vacancy trends on a national scale. It also includes regional breakdowns for the Midwest, Mountain, Northeast, South, Texas/Oklahoma and West.
Though construction activity has slowed, consumer demand remains high, which continues to spur investment interest. “While supply pressures have weighed on property fundamentals in many markets, positive demand trends and favorable yields keep buyers active,” the report states. “Although self-storage [capitalization] rates have compressed in recent years, softening interest rates have widened margins. Initial returns can also exceed those of other property types, further encouraging investment.”
Marcus & Millichap produces more than 1,000 research products each year, according to company officials. Its research-services department offers a range of publications, from national economic perspectives to market-specific analyses. Its website enables users to search for reports by property type, location or keyword.
Founded in 1971, the company is a commercial property-investment firm with nearly 2,000 investment professionals in offices throughout Canada and the United States. It closed more than 9,400 transactions in 2018 with a value of approximately $46.4 billion.