Record self-storage deliveries expected in Austin

​​​​​​​​​​​​AUSTIN – A record level of more than 1.5 million sf of self-storage space is slated for delivery during the second half of the year, says Marcus & Millichap in its second quarter 2018 report.​

Average rent in the metro​ has declined by 9 percent over the past two years, entering the second half of 2018 at $1.01 per sf.

Marcus & Millichap expects the trend to halt, with the year-end rate holding at $1 per sf, down 2.9 percent year over year.

Renter demand is expected to rise during the summer months, negating an influx of new supply and holding vacancy below 10 percent.​