FORT WORTH – This year's local self-storage delivery of nearly 1.07 million sf will be the metro's largest since the early 2000s.
According to Marcus & Millichap's second half 2019 forecast, vacancy will tighten 8.7 percent at the end of the year, negating the ten basis point rise posted last year.
Despite strong demand, the average self-storage asking rate will decline to $0.94 per sf, a slowdown from the 5 percent decline in 2018.
The report also forecasts increases of 2.8 percent and 1.7 percent in employment and population, respectively.
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Source: Marcus & Millichap
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