Regional Information AK


MIDWEST West North Central East North Central


ND WA MT OR CA NV ID WY UT AZ HI


WEST Pacific Mountain


SOUTH West South Central East South Central South Atlantic


Methodology


industry in order to make more educated business decisions. It is important to note, however, that the information provided in the 2018 Almanac is in no way meant to serve as a substitute for local market research. Moreover, it is impera- tive that each developer and investor conduct his or her own market-specific research. The information collected through such research, combined with the data provided herein, will provide an accurate basis for the comparison of individual facilities as well as a forecast of the self-storage business in general. Over the past year we have once again expanded our research to improve


F


the data presented to the self-storage industry in the annual Self-Storage Al- manac. As such, Union Realtime has been selected as the official data provider for the 2018 Almanac. Union Realtime has provided all rental rate, occupancy, and top market data. The supply and demand information contained in this year’s Almanac derives from two sources; Union Realtime has provided infor- mation for the first time in addition to also maintaining the reporting from Newmark Knight Frank (NKF), as we have done for the previous four years. In the 2018 Almanac, we are providing state and CBSA data provided by Union Realtime as a transition comparison. The methodology for Union Realtime appears on the next page.


24 Self-Storage Almanac 2018


irst published in 1992, the Self-Storage Almanac provides the self- storage industry with benchmarks by which facility owners, operators, investors, and other industry professionals may gauge the state of the


NKF Methodology It is important to note that supply data is very subjective, so there will always be differences from one source to another. For the numbers this year, our goal with NKF was to focus only on facilities where the major source of revenue from the address was the rental of self-storage units. If a facility had a major- ity of boat/RV storage or auto storage, it was eliminated from our count. For example, if it was a small number of units (100 or less) behind a strip center with a laundromat and convenience store on the front of the property, the self-storage facility was eliminated. In addition, we also tried to identify sub- categories that predominately contained smaller facilities (of less than 20,000 square feet). For state and CBSA data, as was done with all previous years in partner-


ship with NKF, the supply base was looked at on both a total across all 50 states and across the top-100 MSAs in the U.S. For 2017, as with last year, the supply-side data collection included the sampling of several markets that were tested on a per-property basis so that the property count could be divided into categories that would provide for the micro-tuning of the data collection. This annual distillation of property counts has led to an adjustment over


last year. Based upon the detailed analysis of the business codes used to iden- tify legitimate self-storage facilities, and the shuffling of subcategories by the


CO KY NM TX OK


AR LA


TN MS AL GA FL


SD NE KS


MN WI IA IL MO WV SC IN OH PA NJ VT MI NY


NORTHEAST Middle Atlantic New England


NH ME


MA RI


CT DE


NC VA


MD DC


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