September 30, 2019
Self Storage Rents Continue Descent
Heavy incoming supply continued to burden self storage rent growth in the month of August. On a year-over-year basis, street-rate rents fell...

Self Storage Rents Continue Descent

September 26, 2019 | Evelyn Jozsa | Commercial Property Executive

Heavy incoming supply continued to burden self storage rent growth in the month of August. On a year-over-year basis, street-rate rents fell 1.7 percent for the average 10×10 non-climate-controlled and 2.9 percent for climate-controlled units of similar size. Overall, rent rates declined in approximately 75 percent of the top metros tracked by Yardi Matrix.  

The flood of newly completed projects impacted Charleston the most, where rent rates fell by 11.3 percent over the past 12 months. Substantial new supply also put pressure on Portland (down 5 percent) and Atlanta (down 3 percent). Western markets, such as Las Vegas (4 percent) and the Inland Empire (2 percent) showed the strongest growth year-over-year. In San Jose rent rates were still down 6 percent, yet it represents a recovery of nearly 100 basis points month-over-month. Other Californian markets experienced little to no improvement. 

Read Full Article

 

Recent

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now