Self Storage Market Overview: Second Quarter 2017 Results

Posted: 8/21/2017
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Decelerating Growth Continues; Transaction Volume Reduced

  • The self storage REITs generated same-store revenue growth in the second quarter of 2017 ranging from 1.4% to 5.8%. Revenue growth turned flat to negative in select markets with elevated levels of new supply and economic weakness.
  • Net Operating Income of same-store pools in the second quarter 2017 range from -0.6% to +8.4%.
  • Acquisition volume of the REITs down drastically from last year by over 70%. Private capital filling part of the void in smaller size transactions. Cap rates in major markets not experiencing material change.
  • Second half of 2017 begins with street rate cuts in markets with significant new supply.

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