Public Storage Opens State-of-the-Art Self-Storage Facility in Silicon Valley’s Cupertino Market
December 12 2022 - 4:05PM
Business Wire
Public Storage (NYSE:PSA), the nation’s leading owner, acquirer,
developer, and operator of self-storage properties, announced today
the reopening of a facility adjacent to Apple, Inc. offices in
Cupertino, California.
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the full release here:
https://www.businesswire.com/news/home/20221212005656/en/
State-of-the-Art Public Storage Facility
in Cupertino, CA. (Photo: Business Wire)
The Public Storage, 20565 Valley Green Drive, Cupertino location
now features two five-level state-of-the-art buildings that offer
our industry-leading customer experience, including app-enabled
digital property access and account management, eRental®
capability, and smart security cameras.
We enhanced an existing, forty year old facility from 51,000
square feet to 195,000 square feet and built it with sustainability
in mind—including energy-efficient solar panels, motion-sensor LED
lighting, and sustainable landscaping improvements. The site
previously housed 585 first generation storage units and has been
expanded to 2,593 climate controlled units. The facility is also
being certified to LEED Silver® standards.
“We are pleased to reopen our Cupertino facility and provide
customers with a broad array of storage options,” said Joe Russell,
Public Storage Chief Executive Officer. “This Cupertino location
reflects one of Public Storage’s unique competitive advantages;
specifically the ability to redevelop and expand properties driven
by our experienced development team. This development exemplifies
how we are enhancing our 200 million square foot portfolio across
the country through acquisition, development, and
redevelopment.”
The Company’s current total development pipeline of
approximately $1 billion includes over $500 million in
redevelopment opportunities with 20 projects totaling 3 million
square feet of new space.
“We thank the City of Cupertino for its support in enhancing
this tremendous location,” said Andres Friedman, Public Storage
Senior Vice President of Development. “For nearly five years,
numerous team members across Public Storage, the City of Cupertino,
and vendors have been closely aligned in the redesign, approval,
construction, and completion of this landmark storage
facility.”
To learn more about the project, read here.
Company Information
Public Storage, a member of the S&P 500 and FT Global 500,
is a REIT that primarily acquires, develops, owns, and operates
self-storage facilities. At September 30, 2022, we had: (i)
interests in 2,836 self-storage facilities located in 40 states
with approximately 202 million net rentable square feet in the
United States and (ii) a 35% common equity interest in Shurgard
Self-Storage SA (Euronext Brussels:SHUR), which owned 259
self-storage facilities located in seven Western European nations
with approximately 14 million net rentable square feet operated
under the Shurgard® brand. Our headquarters are located in
Glendale, California.
Additional information about Public Storage is available on the
Company’s website at PublicStorage.com.
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Ryan Burke (818) 244-8080, Ext. 1141
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