Section 9 • Valuation
Table 9.1a - Average Rental Rates By Region Non-Climate
Climate
West 2012 West 2012 West 2012 West 2012 West 2013 West 2013 West 2013 West 2013 West 2014 West 2014 National 2011
4 1 2 3 4 1 2 3 4 1 2 4
National 2012 1 National 2012 2 National 2012 3 National 2012 4 National 2013 1 National 2013 2 National 2013 3 National 2013 4 National 2014 1 National 2014 2 Source: © 2014 REIS, INC.
$52.00 $52.41 $53.11 $53.51 $53.46 $53.75 $54.30 $54.67 $54.27 $55.20 $56.64 $49.80 $50.12 $50.75 $51.06 $51.03 $51.43 $51.97 $52.24 $51.81 $52.45 $53.94
$59.61 $60.16 $60.69 $60.85 $60.47 $60.75 $61.66 $62.20 $62.14 $62.54 $63.71 $61.81 $62.13 $62.91 $63.32 $63.15 $63.44 $64.39 $64.59 $63.61 $64.18 $66.18
Non-Climate
$75.56 $76.10 $77.06 $77.93 $77.94 $78.43 $78.84 $79.55 $78.84 $80.23 $82.24 $68.94 $69.54 $70.35 $71.00 $70.93 $71.39 $72.12 $72.77 $72.11 $73.18 $75.21
Climate
Region Year Quarter Controlled 5 x 5 Controlled 5 x 5 Controlled 5 x 10 Controlled 5 x 10 West 2011
$87.14 $87.57 $88.24 $89.01 $88.65 $89.09 $90.18 $91.03 $90.78 $91.42 $93.12 $87.80 $88.44 $89.77 $90.40 $90.24 $90.56 $91.87 $92.50 $91.34 $92.52 $95.46
Non-Climate
West 2012 West 2012 West 2012 West 2012 West 2013 West 2013 West 2013 West 2013 West 2014 West 2014 National 2011
4 1 2 3 4 1 2 3 4 1 2 4
National 2012 1 National 2012 2 National 2012 3 National 2012 4 National 2013 1 National 2013 2 National 2013 3 National 2013 4 National 2014 1 National 2014 2 Source: © 2014 REIS, INC.
$163.48 $164.31 $166.36 $167.80 $168.09 $168.07 $168.94 $170.26 $169.50 $172.36 $176.32 $142.40 $143.03 $144.73 $145.97 $146.12 $146.62 $147.57 $148.72 $147.62 $149.99 $153.72
Table 9.1b - Average Rental Rates By Region Climate
Non-Climate
$184.24 $184.37 $185.24 $186.83 $187.07 $187.77 $188.54 $188.84 $187.09 $189.46 $193.47 $182.78 $183.00 $185.10 $186.66 $187.17 $188.62 $190.54 $191.50 $189.82 $193.01 $198.66
$199.96 $201.94 $204.61 $205.43 $206.48 $207.27 $209.79 $211.00 $210.07 $213.19 $218.09 $171.37 $172.33 $174.29 $175.48 $176.28 $177.32 $179.84 $181.11 $179.86 $182.41 $187.01
Climate
$226.00 $226.89 $227.30 $228.72 $227.72 $229.00 $230.07 $230.58 $229.76 $232.57 $236.69 $226.94 $227.84 $230.09 $231.96 $232.30 $234.33 $235.86 $237.13 $235.18 $239.09 $245.94
What Is The True Economic Occupancy? Many storage facilities have no problem capturing and retaining tenants. When their occupancy statistics reports (rent rolls) are re- viewed, they appear to be 85 per- cent to 95 percent occupied. Are these properties prime acquisition targets? They won’t have any prob- lems achieving maximum leverage from a refinance, right? The level of occupancy of self-storage facilities can be measured in different ways. While some owners measure
occupancy in terms of square foot- age, the most common measure- ment of physical occupancy is the number of storage units rented. Another key measurement metric is economic occupancy, which fac- tors in discounts and concessions as well as credit loss. Essentially, physical unit occupancy is a “top line” concept, while economic oc- cupancy is a “bottom line” concept.
Non-Climate
$123.42 $124.31 $125.87 $127.54 $127.66 $128.25 $129.07 $130.35 $129.56 $131.81 $134.95 $108.71 $109.35 $110.59 $111.87 $111.92 $112.51 $113.60 $114.82 $113.88 $115.63 $118.85
Climate
Region Year Quarter Controlled 10 x 10 Controlled 10 x 10 Controlled 10 x 15 Controlled 10 x 15 Controlled 10 x 20 Controlled 10 x 20 West 2011
$139.23 $139.49 $140.08 $141.65 $141.80 $142.39 $143.80 $144.72 $143.80 $145.21 $148.18 $138.73 $139.30 $140.92 $142.16 $142.24 $142.89 $144.79 $146.28 $144.66 $146.94 $151.55
94 Self-Storage Almanac 2015
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