Hundreds More Miami Self Storage Units Opened by Public Storage
May 30 2019 - 4:22PM
Business Wire
Public Storage (NYSE:PSA) took over four modern storage
locations in the Miami area on Thursday. And in a single day, the
company increased its footprint in the “Magic City” by 4%.
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Public Storage opened four new locations
in the Miami area today, including this building at 2190 SW 8th
St., Miami, FL 33135 in Little Havana. In total, the company now
has 95 storage locations to choose from in the Miami area. (Photo:
Business Wire)
Public Storage bought the four locations—three in Miami and one
in the neighboring town of Hialeah—as part of its larger commitment
to South Florida and the entire Sunshine State. In addition to
these latest grand openings, the company has been expanding
aggressively and even experienced a 2% growth in the number of
properties it owns statewide over the last year.
Public Storage opened its first location in the Miami area 40
years ago and has been a part of the community ever since,
including with its 95th storage facility that opened here
today.
“We feel like this is a great acquisition. It upgrades our
portfolio,” said Erik Svensson a vice president with the company’s
real estate group. “Our Public Storage properties perform well
here.”
Each of the newly purchased locations, built just two years ago,
offers all climate controlled storage units in a range of sizes,
from small lockers for a few items to 10x30 feet, and everything in
between. They are in neighborhoods with a large number of small
apartments and homes, where residents need help fitting it all
in.
And with more businesses and residents moving in, including an
18% population increase over the last two decades, according to the
U.S. Census, Public Storage is eager to make a difference. The area
draws a lot of millennials despite an expensive real estate
market.
“They want to spend less on real estate and cost per foot,” said
Joe Zubi, senior vice president of communications for the Greater
Miami Chamber of Commerce. “They don’t want to throw stuff out or
pay for an extra bedroom.”
No matter the age of the beholder, the facilities are built to
be noticed, in keeping with the flair and the rich heritage of
their neighborhoods. In bold, modern geometric shapes, they welcome
customers with a variety of storage options, from nearly 600 units
to a total of over 900 units at the largest location on 8th Street
in Miami.
Public Storage 91 Southwest 3rd Street, Miami, FL 33130 is
located in Downtown Miami, near the Miami River, high-rises,
museums and high-end hotels.
Public Storage 2190 SW 8th St., Miami, FL 33135 is located in
Little Havana.
Public Storage 5609 Northeast 2nd Avenue, Miami, FL 33137 is in
Little Haiti.
Public Storage 180 West 6th Street, Hialeah, FL 33010 is near
Miami International Airport.
“The properties are all well located in mature, infill markets
and have high visibility,” Svensson said.
For more information, visit the Public Storage Blog. Follow
Public Storage on Facebook and Twitter.
Company Information
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 2,444 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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Ryan Burke(818) 244-8080, Ext. 1141
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