Public Storage
Encyclopedia
Public Storage a real estate investment trust
(REIT), is one of the largest self-storage companies in the United States
with headquarters in Glendale, CA.
Public Storage built its first self-storage facility in 1972. Today it operates over 2,200 unique and diverse company-owned locations in the United States and Europe (under the Shurgard brand name), totaling more than 140 million net rentable square feet of real estate. Its PS Business Parks
interest adds another 21 million rentable square feet of commercial and industrial space. Based on number of tenants, Public Storage is among the largest landlords in the world. The firm's self-storage properties, located in densely populated areas, generate some 94% of the company's sales. The company was founded in 1971 by B. Wayne Hughes.
Public Storage owns about 41% of publicly traded firm PS Business Parks
, which rents commercial and industrial storage space. Public Storage locations also sell packing and related moving supplies and facilitates the purchase of insurance from Willis Insurance.
Shurgard Storage Centers, Inc. was publicly traded on the New York Stock Exchange from 1994 to August 2006, when it was bought by Public Storage for $5.5B.
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
(REIT), is one of the largest self-storage companies in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
with headquarters in Glendale, CA.
Public Storage built its first self-storage facility in 1972. Today it operates over 2,200 unique and diverse company-owned locations in the United States and Europe (under the Shurgard brand name), totaling more than 140 million net rentable square feet of real estate. Its PS Business Parks
PS Business Parks
PS Business Parks, Inc. is a publicly traded full service real estate company with expertise in leasing, property management, acquisition and development. PS Business Parks is a member of the S&P SmallCap 600 and is a self-advised and self-managed equity real estate investment trust...
interest adds another 21 million rentable square feet of commercial and industrial space. Based on number of tenants, Public Storage is among the largest landlords in the world. The firm's self-storage properties, located in densely populated areas, generate some 94% of the company's sales. The company was founded in 1971 by B. Wayne Hughes.
Public Storage owns about 41% of publicly traded firm PS Business Parks
PS Business Parks
PS Business Parks, Inc. is a publicly traded full service real estate company with expertise in leasing, property management, acquisition and development. PS Business Parks is a member of the S&P SmallCap 600 and is a self-advised and self-managed equity real estate investment trust...
, which rents commercial and industrial storage space. Public Storage locations also sell packing and related moving supplies and facilitates the purchase of insurance from Willis Insurance.
Shurgard Storage Centers, Inc. was publicly traded on the New York Stock Exchange from 1994 to August 2006, when it was bought by Public Storage for $5.5B.