Matrix
Self Storage Rents Show Signs of Improvement
While street-rate rents were down 0.9 percent on a year-over-year basis, the rate actually indicates an 80-basis-point improvement compared to the previous month’s rent rate decrease of 1.7 percent.
Self Storage Rents Still Down Across the US
Despite significant rent growth in the West, street-rate rents declined 1.7 percent on a national level. Additionally, the new development pipeline continued to decrease.
Self Storage Rents Slightly Down, Reflecting Seasonality
Large markets in the Northeast and Southwest continued to experience rent growth, however, street-rate rents fell by 1.7 percent on a national level.
Increased Development Activity Burdens Self Storage Rent Growth
Although metros on the West maintained rent growth, street-rate rents declined 4.1 percent across the country. The new-supply pipeline, however, continued to rise.
Self Storage Rents Fall, Inventory Increases
New projects coming online have continued to put pressure on self storage rents, which have dropped by 4.9 percent nationally.
Heavy Supply Continues to Compress Self Storage Rents
Although metros on the West maintained rent growth, on a national level, street-rate rents have dropped 4.8 percent over the past 12 months.
Oversupplied Self-Storage Markets Face Further Rent Decline
Street-rate rents have dropped 4.1 percent across the U.S. Metros on the west, however, continued to elevate as supply lags demand.
Slow Absorption Hinders Self Storage Rent Growth
Although metros in the Desert Southwest maintained rent growth, street-rate rents continued to decline, at 3.3 percent across the country. The new-supply pipeline, however, reached peak levels.
Metroplex Momentum in Dallas
The metro’s office market is buzzing with activity, with a large influx of absorption as companies relocate to the region, attracted by one of the most active development pipelines in the U.S.
Deliveries to Test Thriving San Francisco Market
San Francisco’s office market continues to be bolstered by major companies willing to pay a premium to be in the country’s largest tech-driven metro, counteracting smaller players’ shift to less expensive areas.