New Cushman & Wakefield report updates key trends and operating metrics
Cushman & Wakefield, the world’s largest privately-held commercial real estate services firm, today announced it had issued its latest Self Storage Performance Quarterly (“SSPQ”). The report, which details key metrics on rents, occupancy and operating trends in the Self Storage sector, is published by the company’s Valuation & Advisory (“V&A”) Self Storage Industry Group.
The results show growth continues in the operating statistics for this sector:
- Asking Rental Rates up 1.1% 2Q2013 versus 2Q 2012.
- Physical Occupancy up 2.6% 2Q2013 versus 2Q 2012.
- Rental Income up 4.1% 2Q2013 versus 2Q 2012.
“The rental income metric is very interesting,” said R. Christian Sonne, author of the report. Sonne, Executive Managing Director, Cushman & Wakefield explains, “Rental income is the actual income collected. These increases are robust and show great strength in the sector”.
The SSPQ is published quarterly and covers the self storage sector nationally and the top 50 MSA’s in the US. The 61 page report includes new construction trends in self storage, cost and use of concessions, as well as operating data. The report can be found at InsideSelfStorage.com, the distributor of the report.