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Austin: Self-storage report first half 2015 with some salesAustin: Self-storage report first half 2015 with some saleshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=7232015-06-16T08:00:00Z2015-06-16T00:00:00Z

AUSTIN-ROUND ROCK - Marcus & Millichap has released the Self-Storage Research Semi-Annual Report for the Austin Area.

In 2015, Austin employment will expand for the sixth consecutive year as local employers create 33,500 jobs, an annual increase of 3.7 percent. Last year, 25,100 positions were added to the metro, a rise of 2.8 percent.

The metro’s population expanded at an annual rate of 3.3 percent since 2009 with the addition of 296,000 individuals in the Austin area. Annual growth will accelerate in the coming five years to 3.0 percent as the metro gains 301,000 residents.

Steady demand and greater supply for self-storage facilities in the metro pushed up vacancy 90 basis points to 12.1 percent in 2014.

Vacancy will decrease this year, slipping back down 90 basis points annually to 11.0 percent. Strong space demand this year will place Austin vacancy below the national average of 11.5 percent.

Nationwide, self-storage supply is approximately 8.3 sf per capita. Texas posted a higher rate at 12.8 sf per person, while stock levels in the metro are between that of the state and nation’s rates at 9.7 sf per capita.

Southwest Region Sales Highlights
Property Name City Net Rentable
SF
Sales Price Price/SF
Your Storage Solution Austin 78,225 $11,200,000 $143
Spare Space Storage Austin 86,180 $10,800,000 $125
All Star Self Storage Crowley 57,625 $4,600,000 $80
Iron Gate Self Storage San Antonio 44,100 $1,190,000 $27
A-Mini Storage Del Valle 45,775 $1,110,000 $24


For the full report, see Self-Storage Research Report First Half 2015 (PDF).

Marcus & Millichap Real Estate Investment Services
Austin-Round Rock
Retail
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