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Self Storage Demonstrates Less Volatile and Cyclical Quality

DALLAS—Crow Holdings is targeting well-located properties that provide an opportunity for operational improvement, expansion of the existing property, or repurposing of existing buildings and development sites.

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Ben Doherty 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.

Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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