Public Storage Inc., a self-storage real estate investment trust (REIT), opened a new facility this week in Frisco, Texas, its first in the Dallas suburb. The property at 8433 Legacy Drive is on 5 acres of land and offers more than 1,000 climate-controlled and drive-up units. A property manager will live onsite, according to a company press release.
The facility is on a major thoroughfare, just off the Dallas North Tollway. It has an upscale brick exterior that’s characteristic of the surrounding community, the release said.
The new property is part of the REIT’s ongoing effort to expand in the region, according to the release. The company recently acquired two properties, High Point Storage and Access Self Storage, in League City, Texas, a Houston suburb.
Based in Glendale, Calif., Public Storage has interests in more than 2,250 self-storage facilities, including nine in cities north of Dallas. It offers approximately 146 million net rentable square feet of storage space in 38 states. Operating under the Shurgard brand name, the company also has 193 facilities in seven European countries, with approximately 10 million net rentable square feet.
Sources:
- Business Wire: Public Storage Opens a New Facility in Frisco, Texas
