February 7, 2022
Let’s take a look at the report for Storage Market Update 4th Quarter 2021.
SUPPLY
HOUSTON
Completions – During the 4th quarter of 2021, Houston saw 0 completions leaving total SF developed in Houston unchanged at 74,131,884 SF (1,033 facilities). Q4 of 2020 saw 2 completions totaling 229,823 SF.
Planned – As of the end of the 4th quarter of 2021, Houston has 13 planned developments totaling 870,645 SF.
Prospective – As of the end of the 4th quarter of 2021, Houston has 13 prospective developments/expansions totaling 1,131,830 SF.
Under Construction – As of the end of the 4th quarter of 2021, Houston has 11 properties under construction totaling 783,886 SF.
SAN ANTONIO
Completions – During the 4th quarter of 2021, San Antonio has seen 0 completions leaving total SF developed in San Antonio unchanged at 23,015,908 SF (363 facilities). Q4 of 2020 also saw 0 completions.
Planned – As of the end of the 4th quarter of 2021, San Antonio has 4 planned developments totaling 244,370 SF.
Prospective – As of the end of the 4th quarter of 2021, San Antonio has 9 prospective developments totaling 337,447 SF.
Under Construction – As of the end of the 4th quarter of 2021, San Antonio has 7 properties under construction totaling 576,896 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 8.05% from $87.00 to $94.00. For Q4 2021, Non-Climate 10X10 rates increased an average of 1.1% from $95.00 to $94.00 showing a slight slow down heading into the fall & winter leasing season.
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 12.15% from $107.00 to $120.00. Similar to Non-Climate, there was a slight dip in rates during Q4, 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 9.09% from $99.00 to $108.00. For Q4 2021, Non-Climate 10X10 rates remained steady at $108.00.
Climate 10X10 – All three classes of properties (A, B & C) have seen continued growth over the past 12 months with an average increase of 7.63% from $118.00 to $127.00. For Q4 2021, Climate 10X10 rates decreased slightly by 1.60% from $129.00 to $127.00.
SOLD
Sold properties for 2021 Q4 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.
Checkout some of our other related content:
- Blog: https://crdrealty.com/market-update-4th-quarter-2020/
- Blog: https://crdrealty.com/market-update-3rd-quarter-2021/
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