Business Wire 10-Aug-2018 8:36 PM
Acquisitions Increase Company's Presence in Minnesota by 12%
Public Storage (NYSE:PSA) acquired six storage locations this week in Downtown Minneapolis and in nearby popular cities. The rebranded storage locations add to Public Storage's strong presence in Minnesota.
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Public Storage opened six new locations around Minneapolis, Minnesota, and beyond this week to help a surge of movers heading to the Twin Cities. (Photo: Business Wire)
These Minneapolis-area Public Storage locations span across the metro area, from Downtown Minneapolis to the popular nearby suburbs of Lakeville, Edina, New Hope and Bloomington, as well as in the City of Hutchinson.
"These locations make us more competitive in Minneapolis and give us a larger footprint in the Twin Cities," said Ryan Nelson, a Public Storage regional manager. "People are moving from rural areas in the state to the urban and suburban markets, and the population shift is driving the area's development and the need for storage."
The U.S. News and World Report named Minneapolis-Saint Paul one of the Top 10 Best Places to Live in the country. And we can see why! The abundant affordable housing, compared to other major housing markets, and low unemployment rate make the city a place for dreamers and doers.
Public Storage has a strong brand recognition in Minnesota. In just the last decade or so, the Company opened approximately 50 locations around the state.
The six locations acquired by Public Storage this week are all newer properties or remodeled ones with state-of-the-art features, some of which include climate-controlled units and drive-up storage spaces.
We help customers in their time of need, whether moving, downsizing or storing for business. Public Storage was founded in 1972 with a single Southern California self-storage building. We've grown a bit since then, to more than 2,402 locations around the country, making us the largest in the business today and a member of the S&P 500. We offer self-storage options of all shapes and sizes and the same personal attention from on-site managers that we've been giving from day one. For stockholders, we are a real estate investment trust, meaning we distribute a large portion of revenue to public investors in the form of dividends. Learn more about Public Storage at https://www.publicstorage.com.
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