Public Storage Inc., a self-storage real estate investment trust (REIT), has opened a new facility in the Dallas suburb of Highland Village, Texas. The property at 4800 Village Parkway includes 1,000 climate-controlled units and will be managed by Mark Bernardi, Kelly Marsh and Cynthia Yakes.
The facility is the sixth Public Storage has built in the region in the past year, according to a press release. “We’re focused on growth [in these neighborhoods] because our existing properties are in other parts of town,” said Jarrod Yates, vice president of real estate.
Growth in the area was another draw for Public Storage, the release stated. Dallas is home to 19 Fortune 500 company headquarters, and Dallas County has grown by 8 percent over the past five years. Denton County, in which Highland Village is located, has grown by 18 percent.
Last month, Public Storage also opened a newly built facility at 4740 Harry Hines Boulevard in downtown Dallas. “Uptown [Dallas] has developed with high-rise apartments, condos and a whole group of baby boomers [who] are moving downtown where the streets were dead for several years,” said Ronnie Baker, the district manager who oversees the five-story, hillside property. “We’re starting to see a lot of reservations pop up; the future of this property is very exciting.”
Based in Glendale, Calif., Public Storage has interests in 2,319 self-storage facilities in 38 states, with approximately 152 million net rentable square feet. Operating under the Shurgard brand name, the company also has 218 facilities in seven European countries, with approximately 12 million net rentable square feet.
Sources:
- Public Storage: Public Storage Highland Village Opens Near Dallas
