Market Overview

Public Storage Adds Six Locations Near Minneapolis, Minnesota

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Acquisitions Increase Company's Presence in Minnesota by 12%

Public Storage (NYSE:PSA) acquired six storage locations this week in
Downtown Minneapolis and in nearby popular cities. The rebranded storage
locations add to Public Storage's strong presence in Minnesota.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180810005462/en/

Public Storage opened six new locations around Minneapolis, Minnesota, and beyond this week to help  ...

Public Storage opened six new locations around Minneapolis, Minnesota, and beyond this week to help a surge of movers heading to the Twin Cities. (Photo: Business Wire)

These Minneapolis-area
Public Storage locations
span across the metro area, from Downtown
Minneapolis to the popular nearby suburbs of Lakeville, Edina, New Hope
and Bloomington, as well as in the City of Hutchinson.

"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."

The U.S. News and World Report named Minneapolis-Saint Paul one of the Top
10 Best Places to Live
in the country. And we can see why! The
abundant affordable housing, compared to other major housing markets,
and low unemployment rate make the city a place for dreamers and doers.

Public Storage has a strong brand recognition in Minnesota. In just the
last decade or so, the Company opened approximately 50 locations around
the state.

The six locations acquired by Public Storage this week are all newer
properties or remodeled ones with state-of-the-art features, some of
which include climate-controlled units and drive-up storage spaces.

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 2,402 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.

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