The self storage sector’s 25 largest metropolitan statistical areas comprise 1,068 development projects, according to STR’s inaugural self storage development report.
Excluded from the development total are projects that are deferred or abandoned.
Anne Hawkins, STR’s executive VP, revealed findings from the report yesterday as part of her presentation on Texas development during the Texas Self Storage Association (TSSA) Executive Retreat.
“This is a major milestone for the industry as we release an unprecedented amount of development data,” Hawkins said. “Data captured thus far shows robust development activity in many markets compared with existing supply. Pairing this development information with existing supply data provides visibility into market conditions and drives smarter operational and development decisions.”
The development report illustrates the following key findings:
The view the full Top 25 development report, please CLICK HERE.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit STR.com.
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