GLENDALE, Calif.--(BUSINESS WIRE)--Thanks to a brand new Public Storage (NYSE:PSA) facility opened here today, there are hundreds more Colorado Springs storage units to choose from in a growing neighborhood on the north edge of town. The project is part of the company’s overall growth strategy that has spurred an 8 percent increase in Public Storage locations in the state over the last year.
The new Public Storage 3601 Blue Horizon View, Colorado Springs, CO 80908 offers more than 700 spaces, from indoor, climate controlled units to convenient drive-up outdoor storage. It is visible from the busy Powers Boulevard, aka Highway 21, thoroughfare in a neighborhood where buildings are quickly rising from vacant fields.
The company chose the new location because the neighborhood is “underserved,” especially in light of the new neighbors moving in, said Erik Svensson, a vice president with its real estate team.
“Any time there are homes and commercial properties being built in an area, it’s a good sign,” he said.
The new location was built with grey and tan siding that fits well with the traditional styles of the housing developments nearby. And of course there are friendly Public Storage Orange accents!
The project represents a revival for Public Storage in town as well. The company had not added another location here for 19 years. However, this is its second grand opening in Colorado Springs in less than two months. Public Storage 6190 Tutt Blvd., Colorado Springs, CO 80923 opened in April with 1,213 indoor, climate controlled units.
Denver’s smaller cousin, Colorado Springs ranks among the best places to live in the U.S. due in part to options for outdoor fun in stunning settings, from Pike’s Peak to Garden of the Gods, according to U.S. News and World Report. It’s a lot cheaper to buy a home here too, with values running about 30 percent less in Colorado Springs than in Denver, according to the website Zillow.com.
Colorado Springs is also wildly popular for millennials, who no doubt come for the low unemployment rate, world-class outdoor hiking and skiing and lower cost of living. The town attracted more growth of new residents in that age group, 15 percent, than any other city in the U.S. during the five-year period that ended in 2015, according to the nonprofit public policy group Brookings Institution.
Brand new homes make north Colorado Springs the hottest neighborhood in town. Can you say “well heeled” in an area known for athletic shoes?
“We’re literally in the middle of brand new neighborhoods,” said Public Storage area manager Samantha Varnadore.
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 2,444 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.