GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) announced today that due to severe weather conditions related to Hurricane Irma, all properties in Florida and nine properties in South Carolina and Georgia are temporarily closed for the safety of our customers and employees. These property closures include 284 properties across both coasts in Florida with approximately 19 million net rentable square feet and over 194,000 units, six South Carolina properties including the Hilton Head area with 298,000 net rentable square feet and over 2,400 units and three Georgia properties with 260,000 net rentable square feet and close to 2,000 units. As the situation remains ongoing and the full impact of the storm is still unknown, the Company will provide additional information as appropriate.
We have established a dedicated hotline for those impacted by Hurricane Irma and any customer who would like to speak to a Public Storage Team Member can call (866) 381-0520. We will also keep our customers informed of any updates by email.
"Our thoughts are with our employees, customers and the communities impacted by Hurricane Irma. As we have done recently in Houston (due to the events tied to Hurricane Harvey), our first priority is to maintain the highest level of safety as we determine any potential damage caused by Hurricane Irma,” said Joseph D. Russell, Jr., President of Public Storage. “We are working diligently to assess each property, and once we have conducted necessary safety inspections we will reopen properties as soon as practical."
In Houston, we have reopened access to all 116 properties covering 8.5 million net rentable square feet and over 79,500 units. However, we anticipate that seven properties more severely impacted by Hurricane Harvey, covering approximately 500,000 net rentable square feet and 4,000 units, will be demolished and rebuilt to state-of the-art properties to withstand potential 500-year floods in the future. In the meantime, our dedicated hotline for those impacted by Hurricane Harvey remains open for any Houston customer who would like to speak to a Public Storage Team Member: (866) 381-0515.
Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At June 30, 2017, the Company had interests in 2,358 self-storage facilities located in 38 states with approximately 156 million net rentable square feet in the United States and 220 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at June 30, 2017.
Additional information about Public Storage is available on the Internet. The Company’s web site is PublicStorage.com.