Cbre Self Storage Report 2017

Real estate activity remains subdued because investors need more certainty about the sustainability of economic growth and occupiers need a safe way of returning workers to the workplace.

Cbre self storage report 2017.

Cbre s self storage advisory group third quarter reit report. For example atlanta austin denver and nashville were considered at equilibrium and will be over supplied after new construction is complete. Cbre self storage provides an integrated and streamlined execution leveraging global reach national relationships and local knowledge. The four page report includes expense data on a national and regional basis across nine categories.

Our trusted advisors are specialists in self storage with a strong track record of successfully guiding clients through every market cycle. Key observations five metros changed market condition. Covid 19 remains front of mind for investors and occupiers despite the recovery in global economic activity that began in may. The top 5 self storage reit s led to a strong third quarter average revenue growth of 5 82 and average same store net operating income noi growth of 7 42 compared to the same period last year.

In its self storage new construction report issued for the third quarter through its valuation advisory services division cbre estimates 947 new projects are scheduled this year compared. Reserves are not considered operating expenses but are calculated below the noi line to reflect. To read the full detailed report on the performance of the 5 self storage reits click on the following link. The content is based on 2016 information from 681 facilities comprising nearly 48.

Cbre self storage operating expense report q1 2017 key national observations self storage expenses averaged 5 25 per rentable square foot in the united states with an average expense ratio of 35 20 applied to effective gross income. In its market monitor report argus estimates 750 storage facilities were built in the u s. Even though these internal growth rates continue to. Last year and expects 953 new starts in 2017.

Self storage cbre is the industry leading provider of valuation advisory services for real estate owners lenders investors and operators. Cbre s self storage advisory group is pleased to release our 3rd quarter 2017 reit report. Our national self storage valuation practice consists of more than 30 licensed appraisers who specialize in self storage valuation. Cbre group inc a commercial real estate services and investment firm has released its self storage operating expense report for the first quarter of 2017 through its valuation advisory services division.