Round Rock, TX, January 27, 2009 --(PR.com
)-- The Texas Self Storage Association (TSSA) announced the publication of the results of its fourth annual market survey. The 67-page report with exclusive data not available elsewhere contains analysis and commentary by Ray Wilson, MAI, CRE, principal for Self Storage Data Services. The study compiles information gathered from known facilities in the state to reveal key inventory characteristics, such as total number of units and total square feet available for rent. Data is compiled for each of the 26 largest Metropolitan Statistical Areas in Texas, with a summary for rural markets. The study also provides information about average facility size, and average unit size for today’s typical Texas self-storage facility.
TSSA hired Wilson for his independent analysis of data provided by approximately 850 owner/operators to provide industry benchmarks for self-storage development and lending. The study creates a market snapshot for each of the MSAs, plus an overview of the Texas market as a whole. For each market, the study lists the average asking rental rates for each of three different unit sizes, both climate and non-climate controlled.
This year’s study revealed the addition of approximately 127,000 more units to the market compared to the previous year. The majority of owner respondents stated that their facility satisfied their investment objectives, although some markets have experienced softening and occupancies and rents have not increased in those areas. Economic occupancy in the Texas self storage market is about the same as for the nation and delinquency rates remain low despite the slow economy and the housing crisis.
The Texas Self Storage Market Survey is an important report for anyone in the financial and capital markets who regularly make, rate, or analyze investments in the self-storage industry. This report is a must for developers, lenders, owner/operators, brokers and appraisers interested in the Texas self-storage market. The survey is available for purchase at the low member price of $200; non-members may purchase the report for $300.
The Texas Self Storage Association was established in 1986 and is a non-profit trade association dedicated to enhancing the quality of the self-storage industry in Texas. The Association provides opportunities for its approximately 2,700 members to increase their knowledge of the industry through education, research, discussion, and exchange of information.
For more information about the Texas Self Storage Market Survey and the Texas Self Storage Association go to: www.txssa.org
. The survey and other publications relevant to the self storage industry can be purchased online or by calling 888.259.4902.