GLENDALE, Calif.--(BUSINESS WIRE)--Public Storage (NYSE:PSA) acquired two new locations today in the Augusta, Georgia, area, increasing its presence in The Garden City by 50%.
This growth allows Public Storage to achieve greater economies of scale and, more importantly, be there for customers. Its other locations in the area were filling up.
“These two new locations will be a great complement to the existing properties we have and allow us to continue to find the right unit for our customers at the best possible price,” said Nathan Batchelor, a senior area manager for Public Storage.
The last time the company expanded here was in 2013, and with its new properties, it now has six Augusta storage facilities.
The new Public Storage 1602 N. Leg Road, Augusta, GA 30909 offers nearly 650 storage units. All are on the first floor, so customers don’t have to deal with elevators or stairs when they move. About a quarter of the options here are climate controlled storage. There are also outdoor storage options for easy drive-up access. And the location is conveniently visible from the intersection of Leg Road and Idlewild Drive in the Forest Estates neighborhood, near the Augusta Mall.
Also opening today is Public Storage 4108A Windsor Spring Road, Hephzibah, GA 30815, with nearly 550 outdoor, drive-up storage units in five buildings. It is located at the busy commercial intersection with Tobacco Road.
These Public Storage acquisitions come at a time of steady economic growth. Housing values and jobs are trending up in the Augusta area faster than the rest of the nation, a pattern that is expected to continue, according to a forecast from the University of Georgia Terry College of Business.
New residents are attracted to the area in part because it is a lot cheaper to buy a home here. The average price per square foot in Augusta is just 30% of what it is in Atlanta, according to data from Zillow.com.
Home to The Masters at Augusta National Golf Club, the area is also popular for its warm weather and ample outdoor recreation options. There are many historic sites in this town founded in the 1700s, and a fun art and music scene.
All of this makes Augusta a perfect place to add more Public Storage Orange units in the area.
“Our properties in this market perform well,” said Erik Svensson, a vice president in the company’s real estate group.
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.