Self Storage Development Report

Transcription

1 Self Storage Sales Network Self Storage Development Report Dallas-Fort Worth Metro Area June 2017 Prepared by: Richard D. Minker, CCIM & Chad Snyder Colliers International

2 2017 SELF STORGE DEVELOPMENT REPORT COMMENTS Self Storage Development Report Dallas - Fort Worth Market 2017 Nothing is more constant but change, and change there is and will continue to be in the North Texas self-storage market for 2017 and We continue to see both strong population growth as well as potential new development in North Texas. In order to track the new development growth, we have utilized multiple resources to provide the best information as to projects under construction, planned or rumored to be built in North Texas. Because of the large number of potential new facilities, there is a strong possibility that any number of these projects will not get off the drawing board. Below is a recap of 2017 development compiled from our sources: What's In the Pipeline # of Projects Potential RSF DALLAS 104 9,540,047 FORT WORTH 55 4,853,552 Observations: With occupancy at record levels, one should not be totally surprised by the number of new facilities that are or might be in the pipeline moving forward. While the numbers are somewhat overwhelming, we have learned over the years that development needs to be looked at on a submarket by submarket basis to truly have an understanding of YOUR market. At the same time, in today's world of "Mega" self storage development projects which can range from 200, ,000 RSF, it does not take much for just one facility to have a significant impact on an individual submarket. While there is indeed reason to be concerned about the level of new development, hopefully reasonable heads will prevail as to this new development moving forward. In summary, self-storage development is on the rise. Where the development is occurring relative to your business, what kind of development it is (new/expansion/proposed) and the overall investment market are all factors to consider when evaluating your business opportunities in the North Texas self-storage market. Contact us to shed light on your individual situation.

3 Dallas Development Map Planned Under Construction Recently Completed Market Proposed Projects Proposed SF Recently Completed 17 1,291,314 Under Construction 34 3,467,796 Planned 53 4,780,937 Total in Pipeline: 104 9,540,047

4 Fort Worth Development Map Planned Under Construction Recently Completed Market Summary Proposed Projects Proposed SF Recently Completed ,938 Under Construction 13 1,233,345 Planned 32 2,784,269 Total in Pipeline: 55 4,213,552

5 DFW Market Data Summary DFW Market Summary Proposed Projects Proposed SF Recently Completed 27 1,487,252 Under Construction 47 4,701,141 Planned 85 7,565,206 Total in Pipeline: ,753,599 Total Existing Supply*: ,776,128 Potential Supply Increase: 16.1% 26.6% * Data from 2017 Self Storage Almanac

6 Please Contact Us for More Details: Richard D. Minker, CCIM Colliers International 1200 Summit Ave, Suite 504 Fort Worth, TX Richard D. Minker, CCIM is the Senior Vice President with Colliers International and formerly served as CEO of MINKERTrahant & Associates. He holds a Bachelor s degree in Business Administration from the University of Pittsburgh and a J.D. from Georgetown University Law Center. Richard has been involved in the commercial real estate industry since 1980 and has worked with such nationally known companies as DynCorp International, Tyson Foods, 20th Century Fox Television and Federal Express. Richard has been recognized by the Society of Commercial Realtors for the Charles D. Tandy Realtor of the year in The Texas Association of Realtors presented him with the William C. Jennings award for the Commercial Real Estate transaction of the year for the State of Texas in Chad Snyder Colliers International 1200 Summit Ave, Suite 504 Fort Worth, TX chad.snyder@colliers.com As a senior associate at Colliers International, Chad Snyder specializes in self-storage and office tenant representation. In this capacity, he focuses on representing midsize office tenants in the Dallas/Fort Worth metropolitan area with a targeted concentration in Tarrant County. Additionally, Chad draws upon his research and analytical skills to provide clients with valuable local and national market insight on a daily basis. Prior to joining Colliers, Chad worked in the oil and gas industry where he specialized in the negotiation and execution of mineral leases at Dale Property Services. he also has a background as a financial advisor where he implemented a range of financial planning solutions for his clients at AXA.