Marcus & Millichap

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New York City Self-Storage Investment Forecast

Self-Storage
2019 Outlook

New York City employers added an average of 95,000 jobs during each of the past five years, reducing the metro’s unemployment rate to an all-time low in late 2018. A lack of available labor restricts the level of job creation in 2019, yet organizations still bolster staffs by 55,000 positions. Rapid expansion of the education and health sector coupled with steady hiring by traditional office firms accounts for a significant percentage of total employment growth this year.More

New Haven-Fairfield County Self-Storage Investment Forecast

Self-Storage
2019 Outlook

New Haven-Fairfield County enters this year on an encouraging note, as positive job creation occurred in 2018 following two straight years of employment loses. Increases in the number of health, financial and professional service-related positions drove the overall rebound in hiring velocity. These sectors continue to support positive economic growth in 2019, as employers are on pace to add 4,500 total workers. More

Nashville Self-Storage Investment Forecast

Self-Storage
2019 Outlook

Since 2010, the number of traditional office workers in Nashville has ballooned by approximately 96,000 positions, largely supported by the expansion of the professional and business services sector. In 2019, traditional office roles account for more than half of the 16,000 total jobs added, with millennials who relocate to the metro filling a significant percentage of these openings.More

Minneapolis-St. Paul Self-Storage Investment Forecast

Self-Storage
2019 Outlook

Spanning the past five years, Minneapolis-St. Paul employers added an average of 31,000 jobs annually, lowering unemployment to a mid-2 percent rate entering 2019. Positive hiring velocity across nearly all industries this year prolongs the stretch of consistent payroll growth, as organizations increase staffs by 30,000 positions led by the retail trade, transportation and utilities sector.More

Los Angeles Self-Storage Investment Forecast

SelfStorage7
2019 Outlook

Los Angeles employers added an average of 65,500 jobs annually over the past three years, reducing the metro’s unemployment rate to a historically low level. Robust hospitality-related hiring coupled with an influx of higher-paying tech and media positions supported this pace of employment growth. Moving forward, organizations bolster the local employment base by an additional 50,000 positions in 2019, as the aforementioned sectors along with the health, defense and aerospace industries add to staffs.More

Las Vegas Self-Storage Investment Forecast

SelfStorage9
2019 Outlook

Las Vegas employers expanded payrolls 3.5 percent in 2018, representing an increase of 35,000 jobs. The metro’s sizable volume of infrastructure and residential development translated to a significant addition in the number of construction positions, with hiring among restaurants and hotels also on the rise. Moving forward, the Las Vegas workforce is on pace to enlarge at a comparable rate in 2019, with a 3.2 percent gain.More