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5 Mar, 2024
Analysis | Latest
February Recap
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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With February 2024 behind us we can take a look and see how rates have changed from 2023 to now. For the month of February 2024 the average price per square foot was $1.19 which was a 17% decrease YoY compared to the average price per square foot in February 2023 which was $1.44.

It seems like rates are stabilizing to pre-pandemic numbers, while the facilities are able to keep their revenue high through existing customer rate increases.

*Average price per square foot data based on 10x10CC REIT data within the top 25 markets

Check out last months recap: