New Boston Storage Units Increase Public Storage Footprint by 7%
September 26 2019 - 1:40PM
Business Wire
Public Storage (NYSE:PSA) purchased two new climate controlled
storage locations today that increase the company’s presence in the
Boston area by 7%.
“These properties are in great infill locations where it is
difficult to find land available to build self storage,” said Erik
Svensson, a vice president in the company’s Real Estate group.
The newly acquired facilities are Public Storage 671 Washington
St., Quincy, MA 02169, the company’s first location in Quincy, and
Public Storage 1901 Revere Beach Pkwy, Everett, MA 02149, the
company’s second in Everett.
Both storage facilities are close to Boston by car and also near
stops of “the T” subway system. In addition, Boston Logan
International Airport is less than a 30-minute drive by car.
The modern concrete and glass storage facilities bring more than
2,300 self storage units, and more Public Storage Orange, to
communities starved for space. After all, in both towns the
population is growing, according to the U.S. Census, and housing
costs per square foot are higher than average for the Boston area,
according to Zillow.com.
The Everett storage units serve a town with Vegas-style glitz
thanks to the opening this year of a 210,000-square-foot luxury
casino and 671-room hotel called the Encore Boston Harbor along
Mystic River.
Quincy, also called the “City of Presidents,” is the birthplace
of both U.S. Presidents John Adams and John Quincy Adams as well as
John Hancock, president of the first Continental Congress. Its
historic architecture reflects its important place in American
history.
Both towns have strong job markets with GE, biotech and academic
institutions offering a rich tapestry of opportunity.
For more information, visit the Public Storage Blog. Follow
Public Storage on Facebook and Twitter.
Company Information
Public Storage was founded in 1972 with a single Southern
California self storage building. We’ve grown a bit since then, to
more than 2,456 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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