Self Storage Demonstrates Less Volatile and Cyclical Quality

Doherty says Crow focuses on the event-driven nature of self storage.

DALLAS—A vacancy contraction of 100 basis points to 10.4% this year will leave the Southwest region poised to achieve a 3.4% increase in climate-controlled rents, according to a Marcus & Millichap self-storage report. Additionally, non-climate-controlled facilities’ average asking rent climbed 3.9% in 2016. Average asking rent increased 1.4% to $1.42 per square foot in the last four quarters among climate-controlled space and 4.5% to $1.10 per square foot at non-climate-controlled facilities. The vacancy rate continued its downward trend last year, falling 70 basis points annually as job growth intensified in the metro, GlobeSt.com learns.