Shurgard Storage Centers
Encyclopedia
Shurgard Storage Centers, Inc. was a Real estate investment trust
(REIT) based in the Cascade
neighborhood of Seattle, Washington.
Its predecessor company, Capital Northwest Management Corporation, was founded in 1972 in Olympia, Washington
by Charles K. Barbo and Donald B. Daniels. The creation of Shurgard Storage Centers was led by Arthur Buerk, who joined Mr. Daniels and Mr. Barbo in 1978. The company operated as a private self-storage management company until it was merged with a series of publicly registered limited partnerships that were taken public. It was publicly traded on the New York Stock Exchange
from 1994 to August 2006, when it was bought by Public Storage
and became a subsidiary. Public Storage
is the worlds largest owner and operator of self storage facilities with over one million customers and more than 2,100 stores in 38 states in the USA and 7 European countries.
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) based in the Cascade
Cascade, Seattle, Washington
Cascade is a small neighborhood abutting Downtown Seattle, Washington, USA; it constitutes the eastern portion of what has come to be known as South Lake Union...
neighborhood of Seattle, Washington.
Its predecessor company, Capital Northwest Management Corporation, was founded in 1972 in Olympia, Washington
Olympia, Washington
Olympia is the capital city of the U.S. state of Washington and the county seat of Thurston County. It was incorporated on January 28, 1859. The population was 46,478 at the 2010 census...
by Charles K. Barbo and Donald B. Daniels. The creation of Shurgard Storage Centers was led by Arthur Buerk, who joined Mr. Daniels and Mr. Barbo in 1978. The company operated as a private self-storage management company until it was merged with a series of publicly registered limited partnerships that were taken public. It was publicly traded on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
from 1994 to August 2006, when it was bought by Public Storage
Public Storage
Public Storage , a real estate investment trust , 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...
and became a subsidiary. Public Storage
Public Storage
Public Storage , a real estate investment trust , 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...
is the worlds largest owner and operator of self storage facilities with over one million customers and more than 2,100 stores in 38 states in the USA and 7 European countries.