MILPITAS, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) opened more than 700 new indoor storage units today in the Silicon Valley to help residents find space in the bustling area. The new building is between existing Public Storage structures and replaces a former vehicle storage lot.
These new units at Public Storage 1080 Pecten Ct. Milpitas, CA 95035 bring the total count at this location to more than 1,200. They are near the I-680 in a well-traveled neighborhood, within walking distance of thousands of new apartments and condos, as well as a planned Milpitas BART station. The location is a convenient choice for new movers in the Silicon Valley and Bay Area coming for job opportunities in the tech industry and other fields.
San Francisco and San Jose have become the least affordable housing markets in the country, according to the National Association of Realtors, and new movers are instead flocking to smaller, slightly less expensive towns like Milpitas, which is just north of San Jose. The city’s population grew 16 percent in just six years, according to U.S. Census data, and Public Storage is adding space for its neighbors in need of more room.
The new units are all climate controlled and indoors, while some of the existing units are located outside and have easy drive-up access. There’s a perfect-sized space for every mover!
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 2,392 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.