Public Storage (PSA) is one of the largest owners, operators, and developers of self-storage facilities in the world. Founded in 1972 by B. Wayne Hughes, Public Storage was initially a small operation with a handful of facilities in Southern California. Over the years, PSA has grown exponentially and now boasts a presence in all 50 U.S. states, with over 2,500 facilities and more than 170 million square feet of rentable storage space.
PSA pioneered the self-storage concept, transforming it into a thriving industry. The company provides various sizes of units, ranging from locker size to larger than a one-car garage, with a focus on affordability, flexibility, and convenience. Additionally, it also offers unique features such as climate-controlled units and vehicle storage spaces.
Public Storage operates under a Real Estate Investment Trust (REIT) structure. Investors are drawn to PSA due to its strong balance sheet, substantial cash flow generation, and its position as a leader in a growing and profitable industry. Even in economic downturns, self-storage demand remains relatively stable, making PSA a resilient investment.
Equally significant is PSA's commitment to sustainability. The company incorporates eco-friendly practices into its operations, such as maximizing facility energy efficiency and utilizing solar energy in specific locations.
Public Storage has extended its reach internationally in recent years, with a significant presence in Western Europe through its subsidiary, Shurgard Self-Storage. Like its parent company, Shurgard is one of the leading self-storage providers in the region, with over 200 facilities across seven countries.
Public Storage's renowned "Orange Doors" are a symbol of customer service and reliability. The company is known for its unsurpassed security systems, consisting of password-controlled gates and surveillance cameras. Furthermore, it offers flexible rental terms, with facilities open seven days a week, and a reservation process that can be completed online.
Finally, PSA's engaged workforce sets it apart, with employees who are dedicated to providing the highest level of customer service. They are trained extensively to assist customers with everything, from choosing the right storage unit size to understanding rental agreements.
Exemplifying resilience, growth, and innovation, Public Storage has made self-storage not just a necessity but a service that is convenient, secure, and customer-friendly. Its contribution to the self-storage industry is undoubtedly significant, with its customer-centric approach and consistent focus on growth and sustainability.