StorTrack’s featured market this month is Lowell, MA. Lowell has a steadily growing local economy, driven by a mix of advanced manufacturing, healthcare, education, and technology sectors, with ongoing revitalization efforts boosting small businesses and attracting new investments to the city.
How is Lowell as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.
Self Storage Market Metrics for Lowell, MA
We’ve utilized StorTrack Explorer’s new Polygon Mapping Tool to define and analyze this market!
This tool gives you even more precise and valuable insights into market trends, supply and demand.
Current Supply:
- There is a supply of 3.47 square feet per capita in this market within 7+ miles using the polygon mapping tool. For comparison, Massachusetts’s square feet per capita is 5.08
- Out of the 4 self-storage facilities currently operating in Lowell, one is a REIT, two are mid-size operators and one small operator
- There are no new planned development projects in this market, though there are 91 active projects across the state
Rate Trends:
Rates in Lowell have trended upward in the last 12 months. The average rate per sq ft for standard, non-climate-controlled units is currently $1.95 and $2.25 for climate-controlled units.
View the Market Report for Lowell, MA
Is this a good market for you to invest in? To understand Lowell’s potential as a self-storage market, view this complimentary report, giving you useful market statistics and metrics.
Additional metrics available with report purchase.
Explorer is StorTrack’s market analysis platform for self-storage operators, investors and developers.
Explorer is available for the evaluation of any primary, secondary and tertiary market in the US, Canada and the UK.
To purchase a full market report for this or any other market, please visit www.StoTrack.com/products/explorer
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