July 5, 2022
SUPPLY
Lets take a look at the storage market for Houston and San Antonio.
HOUSTON
Completions – During the 2nd quarter of 2022, Houston saw 2 completion taking total SF developed in Houston to 82,491,416 SF (1,159 facilities). Q2 of 2021 saw 3 completions totaling 428,205 SF.
Planned – As of the end of the 2nd quarter of 2022, Houston has 31 planned developments totaling 2,136,188 SF.
Prospective – As of the end of the 2nd quarter of 2022, Houston has 12 prospective developments/expansions totaling 908,363 SF.
Under Construction – As of the end of the 2nd quarter of 2022, Houston has 11 properties under construction totaling 822,255 SF.
SAN ANTONIO
Completions – During the 2nd quarter of 2022, San Antonio has seen 3 completions totaling 236,712 SF making total SF developed in San Antonio 25,540,104 SF (412 facilities). Q2 of 2021 saw 0 completions totaling 0 SF.
Planned – As of the end of the 2nd quarter of 2022, San Antonio has 7 planned developments totaling 577,493 SF.
Prospective – As of the end of the 2nd quarter of 2022, San Antonio has 10 prospective developments totaling 313,980 SF.
Under Construction – As of the end of the 2nd quarter of 2022, San Antonio has 9 properties under construction totaling 598,545 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 5.38% from $93.00 to $98.00. For Q2 2022, Non-Climate 10X10 rates rose slightly from $97.00 to $98.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen an increase over the past 12 months with an average increase of 1.67% from $120.00 to $122.00. Rates this quarter rose slightly, going from $121 to $122.
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 4.72% from $106.00 to $111.00. For Q2 2022, Non-Climate 10X10 rates rose slightly from $110.00 to $111.00
Climate 10X10 – All three classes of properties (A, B & C) have seen continued growth over the past 12 months with an average increase of 2.38% from $126.00 to $129.00. For Q2 2022, Climate 10X10 rates remained steady at $129.00.
SOLD
Sold properties for 2022 Q2 are as follows:
The storage market is still strong and looking to continue its growth in the near term.
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