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Press release from Business Wire

Public Storage Opens its Largest Self-Storage Facility in Bronx, New York

<p class='bwalignc'> Providing Multiple Storage Solutions to the Local Market </p>

Wednesday, June 19, 2013

Public Storage Opens its Largest Self-Storage Facility in Bronx, New York

09:15 EDT Wednesday, June 19, 2013

GLENDALE, Calif. (Business Wire) -- Public Storage (NYSE:PSA) David Doll, Senior Vice President, announced the opening of Public Storage's largest self-storage facility in Bronx, New York. The 12-story facility, located at 385 Gerard Avenue (at East 144th Street), will have more than 4,000 units when completed and is Public Storage's 2,079th location.

Public Storage Opens Largest Self-Storage Facility in the Bronx (Photo: Business Wire)

Public Storage Opens Largest Self-Storage Facility in the Bronx (Photo: Business Wire)

The new facility has been designed specifically for the local community with a large variety of sizes to suit the needs and demands of customers from Manhattan to Harlem and the Bronx. The property includes free parking and off-street loading docks for large moving vans.

“Growing demand for smaller sized units at our other locations throughout greater NYC has led us to build this facility to meet the specific needs of local customers,” said David Doll. “Not only does our Gerard facility offer the right kind of storage at the right price, its easy access and free parking make it a convenient choice for the 687,000 New Yorkers who live within two miles of the property.”

Public Storage has invested millions of dollars through local construction trades to renovate and retrofit the building to its high standards that include new roofs, mechanical systems, new high-speed freight elevators and insulated exterior panels. The building will also be energy efficient. The Gerard facility is part of the resurgence in the area with the Yankee Stadium and Bronx Terminal Market developments.

Customers can reserve space online by visiting PublicStorage.com, or by calling 1-800-44-STORE. Grand opening promotions include $1 for the first month's rent along with heavily discounted monthly rental rates. Storage features include restricted access, interior door lock systems and remote surveillance monitoring after hours.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At March 31, 2013, the Company had interests in 2,080 self-storage facilities located in 38 states with approximately 133 million net rentable square feet in the United States and 188 storage facilities located in seven Western European nations with approximately ten million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 41% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28.2 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at March 31, 2013.

Additional information about Public Storage is available on the Internet. The Company's web site is www.publicstorage.com.

Public Storage
Clemente Teng
(818) 244-8080, Ext. 1141

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