Sovran Self Storage, Inc. to Rebrand as Life Storage®
July 18 2016 - 8:55AM
Business Wire
Sovran Self Storage, Inc., (NYSE:SSS), a self storage real
estate investment trust (REIT), announced today that it will
rebrand the 563 storage facilities it presently operates as “Uncle
Bob’s Self Storage®” to “Life Storage®”. The Company also plans to
change its corporate name from “Sovran Self Storage, Inc.” to “Life
Storage, Inc.” and its ticker symbol on the New York Stock Exchange
from SSS to LSI. These changes are expected to occur in mid-August,
2016.
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“Life Storage is the perfect brand name for our Company and for
our stores,” said David Rogers, Chief Executive Officer. “Our
customers see us as an extension of their homes or businesses,
where the environment is welcoming and their belongings are secure.
We’ve always operated with that in mind, but the Life Storage name
brings it into focus – it’s about the customer, not about us.”
A rebranded Life Storage website — set to launch the week of
August 8, 2016 — will depict the new Life Storage logo and feature
the recently acquired 84 facilities originally branded as Life
Storage. It is expected that the cost of the rebranding, which
primarily relates to replacement signage at each store and
rewrapping the Company’s fleet of rental trucks, will be
approximately $22 million.
The rebranding of the existing Uncle Bob’s Self Storage
locations will commence in August and continue on a
market-by-market basis into the second quarter of 2017. As signs
change and rebranding occurs in each area, the converted stores
will be added to the Life Storage website. The existing website
www.unclebobs.com will remain in operation until all stores are
converted.
About Sovran Self Storage, Inc.
Sovran Self Storage, Inc. is an equity REIT that is in the
business of acquiring and managing self storage facilities. The
Company operates approximately 650 self storage facilities in 29
states. For more information, visit www.unclebobs.com/company.
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Sovran Self Storage, Inc.Diane Piegza, 716-650-6115Vice
PresidentInvestor Relations & Community Affairs
Life Storage (NYSE:LSI)
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