Episode 4: Why Dallas Independents Can't Win the Price War (And What Works Instead)
The Power of More Podcast by Storelocal® Storage
The Dallas Fort Worth metroplex is one of the most consolidated self-storage markets in the country, and what is happening there is a preview of where a lot of other markets are headed.
In this episode of The Power of More Podcast, Travis Morrow, CEO of Storelocal, sits down with Alejandro Munoz, Sr. Account Executive at Tenant Inc., who came to self-storage from Gartner and lives in the DFW market he covers.
The number that frames the whole conversation: REITs own 38% of the facilities in DFW but 56% of the square footage. They get into why the square footage number is the one that matters, what Public Storage's $1.5 billion acquisition of 52 DFW facilities did to every operator around them overnight, and why occupancy can sit at 90% while rates keep sliding.
They also cover the unit sizes taking the most pricing pressure and the ones holding steady, why the price war is the most common and most expensive mistake independents make in this market, and the one thing [GUEST] tells every DFW operator to do this week before touching their rates.
Travis closes on the inverse of the headline stat. If REITs hold 38% of the facilities, the rest of the market is still independent. Under one flag, with ownership intact, that is the largest brand in Dallas Fort Worth.
Learn more about Storelocal Storage at storelocal.com.
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