page_title: Public Storage
section_title: Operations
hierarchical_section_title: Public Storage / Operations
caption_attribution_description: English: Public Storage at 30 Brodie Dr, Richmond Hill, ON L4B 3K8
context_page_description: Public Storage is an American international self storage company headquartered in Glendale, California, that is run as a real estate investment trust. It is the largest brand of self-storage services in the US. In 2008, it was the largest of four publicly traded storage REITs. There are more than 2,200 Public Storage self-storage locations in the US, Canada and Europe. It also owns 42 percent of an office parks subsidiary, sells packing supplies, and provides other services. As a REIT, it is owned by real estate investors, who receive more than 90 percent of the company's profits as a return-on-investment.
  Public Storage Inc. was founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr. It grew to 1,000 locations by 1989, using funding from investors in real estate limited partnerships. The private company was re-structured as a publicly traded REIT in 1995, when Storage Equities merged with Public Storage and adopted its name. In 2006 it acquired Shurgard Storage Centers in a $5.5 billion transaction. Shurgard has since been spun-out in to a separate publicly traded entity, with Public Storage retaining 36.6% of the company.
context_section_description: Public Storage is the largest self-storage brand in the US. As of 2014, there were 2,250 Public Storage locations in North America and 193 locations in Europe; European locations are operated by Shurgard Europe, which Public Storage owns 49 percent of. There are also 2,546 office parks operated by PS Business Parks, which Public Storage owns a 42 percent interest in. The largest self-storage business in Canada is operated by a separate company that is allowed to use the Public Storage brand.
  Self-storage locations tend to be in dense clusters in major cities, especially near freeways and intersections. Public Storage has very few employees for a company of its size. Customer access to each storage location is automated. Some locations have a husband-wife couple that live on-site and are paid close to minimum wage to monitor the facility.
caption: Public Storage in Ontario
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