EAST PALO ALTO, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) is expanding its presence in the San Francisco Peninsula today with additional self-storage units in East Palo Alto to serve residents in that growing community.
The company will triple the number of units it owns in town by adding additional storage adjacent to the existing Public Storage 1961 E. Bayshore Rd, East Palo Alto, CA 94303. It is expanding by acquiring the facility from American Self Storage and renovating it.
The newly-acquired, three-building location offers 765 storage units on two acres in a neighborhood of relatively affordable homes and retail such as IKEA and Home Depot. The location will also draw customers from Stanford University, three and a half miles away.
Over the next two months drivers on Highway 101 will see a newer, sunnier look at the location, with bright orange signs and paint. For fans of Silicon-Valley trivia, the facility was originally built in 1977, the same year nearby Apple Computer was incorporated.
When possible, Public Storage often expands its business by purchasing existing buildings and renovating them, as opposed to starting from the ground up. The practice is in line with the company’s sustainability initiatives; by reusing existing structures the company is able to reduce its carbon footprint with fewer contractor trips in the area.
For more information on Public Storage in Palo Alto call (650) 399-0755.
We help customers in their time of need, whether moving, downsizing or storing for business. Public Storage was founded in 1972 with a single Southern California self-storage building. We’ve grown a bit since then, to more than 2,250 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 reinvest more of our revenue back into the business and distribute a large portion to public investors in the form of dividends. Learn more about Public Storage at http://www.publicstorage.com.