Public Storage Inc., a self-storage real estate investment trust (REIT), has opened a new facility in Frisco, Texas. The two-story property is the second the company has opened in the city since 2015, according to a press release.
The location at 2047 Witt Road offers more than 750 climate-controlled units. It’s near Farm to Market Road 423, the Dallas North Tollway expressway, and Lake Lewisville, a reservoir in North Texas. It’ll serve the communities of Frisco and Little Elm, which saw 40 percent to 64 percent population increases between 2010 and 2016. The area, which is about 30 minutes from Plano, Texas, boasts a low cost of living and new housing projects, the release stated.
“People moving to Frisco are moving from cities across the country, and they’re turning to Public Storage because it’s a trusted brand name that they know,” said Miranda Balduf, a facility manager in North Texas.
Earlier this year, Public Storage purchased a six-property portfolio in the Dallas-Fort Worth Area. The facilities total approximately 430,000 square feet of storage space in more than 3,300 units. The REIT also opened a new facility in Richmond, Texas, a suburb of Houston, in late 2017. The five-story property features more than 1,200 climate-controlled units and serves the master-planned communities of Aliana Houston, Harvest Green and Long Meadow Farms.
Based in Glendale, Calif., Public Storage has interests in 2,392 self-storage facilities in 38 states, with approximately 159 million net rentable square feet. Operating under the Shurgard brand name, the company also has 223 facilities in seven European countries, with approximately 12 million net rentable square feet.
Source:
Business Wire, Public Storage Opens New Frisco, Texas, Storage Facility
