And finally, investment sales. What’s going on with buyers, sellers and pricing? Now the volatility of the capital markets really slowed down transaction volume in Q4 of last year, but we’re starting to pick up steam now and we really expect that momentum to continue over the next 6 to 12 months. Currently, we’ve got a solid pipeline of listings and deals under contract. We’ve… Read More »State of Investment Sales 2023
The capital markets are the biggest wild card of the group. A few weeks ago, it looks like we finally had a clear path towards stability. But then we received a better than expected jobs report, the Fed chair signaled further aggressive rate hikes, and the 16th largest bank in the United States collapsed. On one hand, you have folks saying that things could get… Read More »State of Capital Markets 2023
We wanted to do a kind of “state of the market” just to let you all know what we’re seeing and hearing out there as it relates to operations, capital markets and investment sales. So we’ll start with the boots on the ground. Now, everyone from the REITs in their quarterly reports that just came out all the way down to the mom and pop… Read More »State of the Market 2023 Operations
Austin Market: Continual Inflow of New Residents Drives Demand Economic Overview Austin’s job count will continue to climb this year, albeit at a reduced pace. Several large companies are currently expanding in the market, which will support construction-related hiring over the near term and higher-paying job creation beyond 2023. Apple is one such firm, with the company building a campus in Northwest Austin that will… Read More »2023 Marcus & Millichap Self-Storage Investment Forecast Report
September 2022 Special Report | Capital Markets: Pay To Play | Why Debt Is More Expensive Right Now As Higher Interest Rates Disrupt Lenders’ Financing Mechanisms, Spreads to Borrowers Climb Higher Tightening Monetary Policy kicks off widening spreads by lenders. Since the first federal funds rate hike in March 2022, the capital markets have been disrupted, due to financial market volatility revolving around inflationary pressures… Read More »Capital Markets: Pay To Play | Why Debt is More Expensive Right Now
September 2022 Self Storage National Report Self-Storage Properties Attract Broadening Range of Capital; Sector Durability and Inflation Resistance Key Storage space demand sustains momentum, extends rent climb. The self-storage sector entered the second half of the year in a strong position, having accumulated additional renter demand during the most challenging period of the pandemic. As health conditions and social behaviors normalize, the sector is continuing… Read More »September 2022 Self-Storage National Report
June 2022 Special Report: Texas Market Overview More Households and Companies are Calling Texas Home, Lifting Self-Storage Needs and Drawing New Investment Lifestyle changes and improving economy boost storage needs. By fostering a broad shift to remote working and enhancing population mobility, the health crisis galvanized self-storage demand across the country. The national vacancy rate fell from 10.1 percent in March 2020 to a record… Read More »June 2022 Special Report: Texas Market Overview
June 2022 Special Report: Financial Markets Fed Increasingly Aggressive in Effort to Curb Inflation; Rising Interest Rates Form Headwind for Real Estate Borrowers Fed executes steepest rate hike in decades. At its June 15 meeting, the Federal Open Market Committee (FOMC) raised the federal funds rate 75 basis points to a target range of 1.50 percent to 1.75 percent. This was the largest single increase… Read More »June 2022 Special Report: Financial Markets
June 2022 Special Report: Capital Markets: To Swap Or Not To Swap- That Is The Question Rising Interest Rates Place Spotlight on Interest Rate Swaps and Caps; Catapulting Forward Curves Complicate Process Tightening monetary policy highlights utility of rate swaps and caps. Commercial real estate investors have long had multiple avenues for hedging against rising interest rates. The Federal Reserve’s commitment to raising interest rates,… Read More »Capital Marketing: To Swap Or Not To Swap- That Is The Question
Booming Tech Sector Boosts Incomes, Storage Demand Economic Overview As prominent companies like Tesla and Facebook move operations to Austin this year, the metro’s job market is projected to grow substantially. Due to a thriving tech industry, Austin boasts the fastest job growth in office-using sectors among major metropolitan areas, allowing for a consumer base with higher discretionary incomes. Demographic Overview Having expanded by nearly… Read More »2022 Self-Storage National Investment Forecast