April 25, 2022
Please see below for the latest self storage market update for Houston and San Antonio, brought to you by CRD Realty.
SUPPLY
HOUSTON
Completions – During the 1st quarter of 2022, Houston saw 1 completion taking total SF developed in Houston to 77,090,109 SF (1,086 facilities). Q1 of 2021 saw 3 completions totaling 445,425 SF.
Planned – As of the end of the 1st quarter of 2022, Houston has 27 planned developments totaling 1,696,901 SF.
Prospective – As of the end of the 1st quarter of 2022, Houston has 11 prospective developments/expansions totaling 1,023,774 SF.
Under Construction – As of the end of the 1st quarter of 2022, Houston has 10 properties under construction totaling 799,382 SF.
SAN ANTONIO
Completions – During the 1st quarter of 2022, San Antonio has seen 2 completions totaling 190,263 SF making total SF developed in San Antonio 23,940,191 SF (384 facilities). Q1 of 2021 also saw 3 completions totaling 308,873 SF.
Planned – As of the end of the 1st quarter of 2022, San Antonio has 5 planned developments totaling 354,123 SF.
Prospective – As of the end of the 1st quarter of 2022, San Antonio has 11 prospective developments totaling 488,426 SF.
Under Construction – As of the end of the 1st quarter of 2022, San Antonio has 9 properties under construction totaling 509,214 SF.
RATES
HOUSTON
Non-Climate 10X10 – All three classes of properties (A, B & C) have seen an increase in rates over the last 12 months with an average increase of 9.09% from $88.00 to $96.00. For Q1 2022, Non-Climate 10X10 rates stayed flat at $95.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen a strong increase over the past 12 months with an average increase of 9.09% from $110.00 to $120.00. Rates this quarter took a slight dip, going from $121 to $120.
SAN ANTONIO
Non-Climate 10X10 – All three classes of properties (A, B & C) have seen a continued increase over the past 12 months with an average increase of 6.86% from $102.00 to $109.00. For Q1 2022, Non-Climate 10X10 rates remained steady at $109.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen continued growth over the past 12 months with an average increase of 5.83% from $120.00 to $127.00. For Q1 2022, Climate 10X10 rates remained steady at $127.00.
Sold properties for 2022 Q1 are as follows:
*We obtained the information shared in this market update from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. We include projections, opinions, assumptions or estimates for example only.
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