Category: Market of the Month

StorTrack’s featured market this month is Millcreek, UT. Millcreek is a suburb nestled between Salt Lake City and South Salt Lake. The area boasts scenic views of the Wasatch Mountains and is home to Millcreek Canyon, a popular destination for outdoor enthusiasts. How is Millcreek as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to find out the potential as a self-storage investment. Self Storage Market Metrics for Millcreek, UT Current Supply: There are 5.22 square feet per capita in this market. For comparison,…

Using the Market Discovery Tool from StorTrack’s Explorer product, we identified Bellevue, a city located across from Seattle on Lake Washington in Washington. With over 100 parks, Bellevue is known as “a city in a park” though it is still the fifth largest city in the state. Current Supply At 5.77 square feet per capita and with a population anticipated to grow to 156,728 by 2025 (up 7.24% since 2020), the city could potentially tolerate new supply. New Supply Public Storage is currently developing their seventh facility in Bellevue, a…

Using the Market Discovery Tool from StorTrack Explorer, we were able to view market data on Overland Park, the second most populous city in the state of Kansas. With 20 stores in the city, the square footage per capita is less than six. There are two development projects in the pipeline, adding an additional 119,000 square feet by the end of 2023. However, with population projections, demand should offset this new supply. While the average rate per square foot remains relatively consistent in Overland Park (see above), the spread between…

Using the Market Discovery Tool from StorTrack Explorer, we located Grapevine, TX. This charming city thrives on travel and tourism however the supply metrics indicate an interesting market for storage. The square footage per capita in Grapevine is 7.44. The US national average is 7.98 square feet per capita and the Texas state average is 10.53 square feet per capita. Across all unit types, 75% of unit pricing is currently advertised online. Rate Trends The rates in this market have trended down in the last three months by -5.52%. The…

Using the Market Discovery Tool from StorTrack Explorer, we were able to view market data on Auburn, the largest city in eastern Alabama. With 11 stores in this market and no current development activity, this market could be worth further evaluation. The city has 6.91 square feet per capita and a population of 65,508, nearly 50% of which are renters.   Compared to the statewide average rental rate of $1.49 per square foot for all unit types, Auburn’s are only $1.20 however rates have been trending upward over the past…

Using the Market Discovery Tool from StorTrack Explorer, we were able to view market data on Kitchener, a city in southeast Ontario about 100 km (62 mi) west of Toronto. With 20 stores in this market and no current development activity, this market could be worth further evaluation. The city has 3.59 square feet per capita and a high median household income of $85,058 when compared to the national and province averages of $70,336 and $74,287, respectively. To view additional metrics and learn if this area presents a viable investment…

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…

Click Here to View Market Information Using the Market Discovery Data Tool from StorTrack Explorer, we were able to review data on North Las Vegas, a city in Clark County, NV. Rates have been trending upwards by nearly 22% over the past year and current supply is 7.7 square feet per capita. To view additional metrics, visit the link labeled “Click Here to View Market Information” or go to StorTrack.com to purchase historical data.

Using the Market Discovery Data Tool from StorTrack Explorer, we were able to review data on Evanston, a city in Cook County, IL. Rates have been trending upwards by nearly 23% over the past year and current supply is 3.1 square feet per capita. To view additional metrics, visit the link labeled “Click Here to View Market Information” or go to StorTrack.com to purchase historical data.