Opportunity Grading Model

The opportunity grade of a location is based on the projected square footage per capita of self storage space. It combines estimates of both population and the installed and incoming self storage capacity. A neutral grade means that the projected supply of self storage capacity is likely to be sufficient to meet the demand based on the projected population. Good and poor grades indicate possible shortages and surpluses of self storage capacity relative to projected population. Complementing this model are data on housing starts showing the incoming housing capacity over a three-year time horizon.

Opportunity grades have the following definitions:

Very Good: The area has little or no self storage presence with either significant existing population or significant incoming population over the next three years.

Good: The area has and will continue to have low self storage capacity with room for more development and acquisition activity.

Neutral: The area has sufficient self storage supply to meet current demand, but significant population growth is expected to reduce square footage per capita.

Poor: The area has moderately high square footage per capita and very limited or no projected growth. There is no clear benefit to acquisition or development.

Very Poor: The area is already overbuilt, with little or no projected population growth to decrease square footage per capita.

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