Marcus & Millichap

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Cleveland Self-Storage Investment Forecast

Self-Storage
2019 Outlook

Cleveland’s employment base increased 3.2 percent in 2018, a notable uptick following a four-year period of 2.1 annual percent growth. The recent spike in hiring velocity was driven by a resurgence in manufacturing-related job growth coupled with additions by retail trade, transportation and utilities organizations.More

Cincinnati Self-Storage Investment Forecast

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2019 Outlook

The Cincinnati economy enters 2019 on an encouraging note, boasting annual employment growth of 20,000 jobs in 2018 following a subpar year for hiring velocity. The retail trade, transportation and utilities sector was the primary driver of job creation, with the number of construction and financial-related positions also on the rise. Moving forward, the metro’s employment base is on pace to expand by 17,500 workers in 2019.More

Chicago Self-Storage Investment Forecast

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2019 Outlook

Job creation in the Chicago metro improved on a year-over-year basis in 2018, as organizations expanded payrolls by 34,500 positions. The increase in job openings was primarily driven by upticks in the number of government, manufacturing and construction positions. In 2019, traditional office roles account for a fourth of total employment growth, with the metro on pace to add 30,000 workers to staffs.More

Charlotte Self-Storage Investment Forecast

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2019 Outlook

The addition of many new higher-paying jobs has driven overall hiring velocity in Charlotte over the past two years, with the professional and business services and financial activities sectors adding nearly 20,000 positions combined. Continued job creation by organizations within these industries coupled with government and retail-related employment growth supports an uptick in hiring during 2019, with the metro’s employment base expanding by 2.6 percent.More

Boston Self-Storage Investment Forecast

SelfStorage_10_2018
2019 Outlook

The Boston economy enters 2019 following a year in which annual employment growth improved amid low-3 percent unemployment. While the professional and business services sector continues to expand this year, it should do so at a slower pace than in 2018, with overall job creation more dependent on hiring activity within the construction, education and health sectors.More

Bay Area Self-Storage Investment Forecast

Self-Storage
2019 Outlook

The strength of the Bay Area’s professional and business services sector continues to support overall hiring velocity, resulting in the addition of 42,000 traditional office positions in 2018. Robust job creation within the industry persists in 2019, supporting a 2.4 percent boost in the region’s overall employment base. San Jose represents the primary driver of Bay Area employment growth this year as payrolls expand by 40,000 positions in the metro, accounting for nearly half of the jobs added in the region.More