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Public Storage Boosts Twin Cities Presence
Glendale, CA-based Public Storage recently acquired six storage locations in downtown Minneapolis and in surrounding suburbs. The rebranded storage locations add to Public Storage’s already significant presence in Minnesota.
Financial terms and the seller or sellers of the storage facilities, all of which are newer or recently remodeled, weren’t disclosed. Along with Minneapolis, Public Storage bought properties in Lakeville, Edina, New Hope and Bloomington, MN, as well as in Hutchinson, MN, about 60 miles west.
“These locations make us more competitive in Minneapolis, and give us a larger footprint in the Twin Cities,” said Ryan Nelson, a Public Storage regional manager. “People are moving from rural areas in the state to the urban and suburban markets, and the population shift is driving the area’s development and the need for storage.”
Public Storage has opened approximately 50 locations across Minnesota in the past decade, mainly in the Twin Cities region.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
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