DFW self-storage deliveries expected to exceed three million sf in 2018 | DFW self-storage deliveries expected to exceed three million sf in 2018 | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=19755 | 2018-04-10T05:00:00Z | 2018-04-10T14:00:00Z | DALLAS – Local self-storage deliveries are expected to total 3.1 million sf this year, says Marcus & Millichap's 2018 self-storage investment forecast report.
Marcus & Millichap predicts a 10.4 percent vacancy rate, up 100 basis points from 2017, which delivered over 2.6 million sf.
Operators could reduce area rents by 3.4 percent this year to $0.97 per sf. In 2017, rents dropped 3.3 percent.
The metro's projected population growth of 144,600—a 1.9 percent increase—is expected to generate demand for self-storage space. The report says the continued influx of new apartments also boosts consumer sales and self-storage demand. North Texas employers could create 80,000 jobs for the second year in a row, the report shows.
| Marcus & Millichap Real Estate Investment Services
| Dallas-Fort Worth-Arlington
| Retail
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