Public Storage Adds New Storage Units in Colorado Springs

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.

For more information, visit the Public
Storage Blog
. Follow Public Storage on Facebook
and Twitter.

Company Information

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.

Contacts

Ryan Burke
(818) 244-8080, Ext. 1141

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