Self Storage Usage by American Families Climbs 50% According to New Research by SSA

Business Wire, Feb 21, 2005

SPRINGFIELD, Va. -- First Study in a Decade Indicates "Convenience & Drive-up Accessibility" Increase Consumer & Business Storage Demand (Complete Study to be Released March 17)

The most comprehensive demand study ever conducted about America's use of self storage is shedding new light on the number of households that utilize self storage rental facilities. The Self Storage Demand Study indicates that 1 in 11 (approximately 9 percent) of U.S. households currently rent a self storage unit. This is up from 1 in 17 (approximately 6 percent) of households in 1995, when the last industry demand study was released. The complete study will be available March 17, 2005, at the Self Storage Association (SSA) Spring Conference & Trade Show in Philadelphia, PA. The comprehensive survey and analysis was conducted for the SSA by National Analysts, Inc., a Philadelphia-based research and consulting firm.

According to the data gathered by National Analysts for the SSA, approximately 10 million households, out of an estimated 112 million U.S. households, or nearly 9 percent, currently have a member of the family that utilizes self storage unit. Further, the survey found that 50.7 million U.S. households, or 46%, have utilized a self storage rental facility at some point in the past. The study also considers the number of businesses utilizing self storage rental units.

"The unprecedented demand for self storage space has spurred a relatively steady five to ten percent growth rate for this industry over the last eighteen years; however, that is beginning to ease up a bit now," said Michael T. Scanlon, Jr., President and CEO of the Self Storage Association. "Consumers are no longer just storing grandma's furniture. Today the typical self storage unit is home to seasonal clothing, kitchenware, household supplies, files and records, books, collectibles, holiday decorations...everything but the proverbial kitchen sink," Scanlon added.

The study findings also indicate that patrons of self storage facilities tend to prefer personal convenience over advanced non-essential infrastructure, such as climate control and shelving. Data demonstrates that a vast majority of current as well as recent users of self storage and mini-storage units still prefer traditional facilities that offer drive-up accessibility versus the many still-emerging mobile and "containerized" storage options.

The final "Self Storage Demand Study (2005 Edition)" seeks to identify contemporary trends in usage by the residential and business consumer segments and will be the theme of SSA's Spring Conference & Trade Show to be held March 17-19, 2005, at the Philadelphia (PA) Marriott & Conference Center. The SSA's Opening General Session will feature a multi-media presentation of the highlights of the extensive and detailed SSA Self Storage Demand Study. Subsequent general sessions and break out meetings in Philadelphia will analyze the meaning of the new research for the industry at-large as well as specific impacts for urban, suburban and rural operations. Other sessions will also provide insight into the latest developments in self storage related to regulatory and legal matters, taxes, marketing, construction and much more.

National Analysts is a recognized leader in consumer-related research and consulting. A published edition of definitive study results will be available for purchase, by SSA members and attendees, at the SSA Spring Conference & Trade Show in Philadelphia, PA. The Self Storage Demand study will be available for purchase by non-members, industry analysts and other interested parties beginning March 21, 2005. For further information or to order a copy of the complete SSA Self Storage Demand Study (2005 Edition), please contact Karen English at (703) 921-9123.

About the Self Storage Association (SSA)

The year 2005 marks the 30th Anniversary of the Self Storage Association (SSA), the premier national not-for-profit (501-c-6) trade organization and official voice of the self storage industry that currently numbers 44,104 self storage facilities nationwide. The SSA directly represents more than 2,500 member companies that own and operate thousands of self storage and mini storage facilities throughout the United States and in seventeen countries across the globe. SSA members range from individual facility owners and operators to multiple-facility operations, to large publicly traded Real Estate Investment Trusts (REITs). Also, the SSA represents hundreds of individual members, self storage facility managers and vendor firms.

The Association specializes in seven areas of core competency: (1.) data, information & research; (2.) advocacy & lobbying; (3.) networking & meetings; (4.) communication & publications; (5.) executive education & employee training; (6) membership rewards & benefits; and (7) state self storage association relations. The SSA is affiliated with and serves as the national umbrella organization for 25 state and regional self storage associations in the U.S.