Using the Market Discovery Tool from StorTrack Explorer, we were able to view market data on Alexandria, VA, an independent city located on the Potomac River, just south of Washington DC. With 22 stores in this market and one development in the pipeline, analyzing an opportunity in this market is critical. The city is characterized by a high median household income and strong population demographics.
Throughout the past 12 months, all facilities in this market have consistently had higher rental rate per square foot averages for a ground floor, non-climated controlled 10 x 10 unit than the national average of $1.22 and a statewide average of $1.30 (see figure 1).
While not as lucrative as standard units, ground floor, climate-controlled 10 x 10 units have averaged higher than the national and statewide rental rate of $1.59 with only three facilities coming in under (see figure 2).
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