Public Storage acquires 30-asset portfolio for $189 million

04/6/2010 | Los Angeles Times (tiered subscription model)

Public Storage is buying 30 facilities for a total of $189 million. The seller is in distress as the self-storage industry has been in turmoil. It was a good deal for the company, spokesman Clem Teng said. "This deal comes in at just under $100 per square foot, which in today's market is pretty hard to duplicate, especially in Los Angeles and Chicago," he said.

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