DALLAS – The local average rental rate for self-storage space will fall 2.1 percent to $0.95 per sf, marking the third consecutive year with an annual decrease in the average rent.
According to Marcus & Millichap's second half 2019 forecast, the city will deliver over 1.78 million sf of self-storage space, falling short of the two million-sf completion benchmark surpassed each of the past two years.
Strong demand will compress the Metroplex vacancy rate to 8.7 percent, negating last year's ten-basis-point rise.
The report also forecasts a 2.8 percent increase in employment and 1.7 percent rise in population.
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Source: Marcus & Millichap
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