Life Storage, Inc. Provides Update on Hurricanes Irma and Harvey
September 14 2017 - 4:43PM
Business Wire
Life Storage, Inc., (NYSE:LSI), announced today that 87 of its
95 Florida properties are open for business. These represent a
total of 5.8 million sq. ft. and 56,000 storage spaces. Eight Life
Storage properties remain temporarily closed due primarily to power
outages caused by Hurricane Irma. Of these, seven stores are wholly
owned by the Company and represent 603,000 sq. ft. and 6,200
storage spaces. The 8th location is a managed facility in which the
Company has no ownership interest. To date, the Company has
identified two wholly owned properties that have sustained heavy
damage.
The Company also announced today that all 69 of its properties
in Houston and Beaumont, Texas are now open and assisting
customers. As previously announced, six locations did sustain
substantial damage from Hurricane Harvey; these stores are open to
support existing customers but will not be accepting new customers
until a later date.
“Our Florida and Southeast Texas-based teams have been accounted
for and for that, we are grateful,” said David Rogers, CEO. “We are
thankful to our customers for their patience during this most
trying time, and we are most proud of the Life Storage team members
from around the country who have volunteered to join our recovery
efforts on the ground.”
ABOUT LIFE STORAGE, INC:
Life Storage, Inc. is a self-administered and self-managed
equity REIT that is in the business of acquiring and managing self
storage facilities. The Company is one of the largest operators in
the world with approximately 700 self storage facilities in 29
states. For more information, visit
http://invest.lifestorage.com/.
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version on businesswire.com: http://www.businesswire.com/news/home/20170914006420/en/
Life Storage, Inc.Diane Piegza, 716-650-6115Vice President,
Investor Relations & Community Affairs
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