GLENDALE, Calif.--(BUSINESS WIRE)--
Public Storage (NYSE:PSA) announced today that due to severe weather
conditions related to Hurricane Irma, all properties in Florida and nine
properties in South Carolina and Georgia are temporarily closed for the
safety of our customers and employees. These property closures include
284 properties across both coasts in Florida with approximately 19
million net rentable square feet and over 194,000 units, six South
Carolina properties including the Hilton Head area with 298,000 net
rentable square feet and over 2,400 units and three Georgia properties
with 260,000 net rentable square feet and close to 2,000 units. As the
situation remains ongoing and the full impact of the storm is still
unknown, the Company will provide additional information as appropriate.
We have established a dedicated hotline for those impacted by Hurricane
Irma and any customer who would like to speak to a Public Storage Team
Member can call (866) 381-0520. We will also keep our customers informed
of any updates by email.
"Our thoughts are with our employees, customers and the communities
impacted by Hurricane Irma. As we have done recently in Houston (due to
the events tied to Hurricane Harvey), our first priority is to maintain
the highest level of safety as we determine any potential damage caused
by Hurricane Irma,” said Joseph D. Russell, Jr., President of Public
Storage. “We are working diligently to assess each property, and once we
have conducted necessary safety inspections we will reopen properties as
soon as practical."
In Houston, we have reopened access to all 116 properties covering 8.5
million net rentable square feet and over 79,500 units. However, we
anticipate that seven properties more severely impacted by Hurricane
Harvey, covering approximately 500,000 net rentable square feet and
4,000 units, will be demolished and rebuilt to state-of the-art
properties to withstand potential 500-year floods in the future. In the
meantime, our dedicated hotline for those impacted by Hurricane Harvey
remains open for any Houston customer who would like to speak to a
Public Storage Team Member: (866) 381-0515.
Company Information
Public Storage, a member of the S&P 500 and FT Global 500, is a fully
integrated, self-administered and self-managed real estate investment
trust that primarily acquires, develops, owns and operates self-storage
facilities. The Company’s headquarters are located in Glendale,
California. At June 30, 2017, the Company had interests in 2,358
self-storage facilities located in 38 states with approximately 156
million net rentable square feet in the United States and 220 storage
facilities located in seven Western European nations with approximately
12 million net rentable square feet operated under the “Shurgard” brand.
The Company also owns a 42% common equity interest in PS Business Parks,
Inc. (NYSE:PSB) which owned and operated approximately 28 million
rentable square feet of commercial space, primarily flex, multi-tenant
office and industrial space, at June 30, 2017.
Additional information about Public Storage is available on the
Internet. The Company’s web site is PublicStorage.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170910005082/en/
Public Storage
Clemente Teng
(818) 244-8080, Ext. 1141
Source: Public Storage