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Self Storage Industry

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BUSINESS
April 11, 1990 | LESLIE ZGANJAR, ASSOCIATED PRESS
Self-storage facilities have long been thought of as those places where people squirrel away all the stuff that they don't have room for but just can't seem to part with. Not so, says John Logan, a sociology professor at the State University of New York at Albany. "People hanging on to things is what shows up more in people's garages and attics," Logan says. "Keeping things for a long time for nothing more than personal attachment is a luxury.
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CALIFORNIA | LOCAL
December 1, 1997
Front-page stories, Nov. 23: Iraq hiding arms data. The self-storage industry is booming. Any connection? JAY HELLER Los Angeles
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CALIFORNIA | LOCAL
December 1, 1997
Front-page stories, Nov. 23: Iraq hiding arms data. The self-storage industry is booming. Any connection? JAY HELLER Los Angeles
NEWS
November 23, 1997 | JILL LEOVY, TIMES STAFF WRITER
In America today, people can become millionaires from selling little more than empty space. But the phenomenal rise of the self-storage industry is more than a tale of fantastic profits and a booming investment trend. It speaks to changing living patterns since the 1970s, and the ambivalent relationship some people have with their stuff--the growing mountain of possessions they've accumulated even as personal attachments come and go.
BUSINESS
March 13, 1990 | JAMES F. PELTZ, TIMES STAFF WRITER
Wayne Hughes is not a household name, but his trademark is commonplace: Those bright orange signs denoting Public Storage self-storage warehouses, where people rent garage-size rooms for $60 or $80 a month to store furniture, clothes and who knows what. Since co-founding the Glendale-based company in 1972, B. Wayne Hughes Sr. has built Public Storage Inc.
NEWS
November 23, 1997 | JILL LEOVY, TIMES STAFF WRITER
In America today, people can become millionaires from selling little more than empty space. But the phenomenal rise of the self-storage industry is more than a tale of fantastic profits and a booming investment trend. It speaks to changing living patterns since the 1970s, and the ambivalent relationship some people have with their stuff--the growing mountain of possessions they've accumulated even as personal attachments come and go.
MAGAZINE
February 25, 1996 | Darrell Satzman
* Number of self-storage facilities in the U.S.: 25,000 * Total self-storage space in U.S.
BUSINESS
November 13, 1998 | From Times Wire Services
Public Storage Inc. said Thursday that it will acquire Storage Trust Realty, combining the mini-warehouse rivals in a deal valued at about $400 million, plus assumed debt. The acquisition would solidify Glendale-based Public Storage's position as the largest self-storage developer in the country, giving it a market capitalization of $5 billion and expanding its holdings to almost 1,300 facilities in 37 states. The combined companies would own more than 1,300 mini-warehouses in 37 states.
BUSINESS
August 6, 2003 | Karen Robinson-Jacobs, Times Staff Writer
Aggressive discounting and a nationwide advertising campaign helped attract enough new business to boost Public Storage Inc.'s second-quarter earnings by 4%, the company said Tuesday. The Glendale-based real estate investment trust, which rents out storage units in 37 states, saw net income for the period ended June 30 rise to $84.3 million, up from $80.7 million in the same period a year earlier.
BUSINESS
March 15, 2003 | Roger Vincent, Times Staff Writer
Public Storage Inc. said Friday that fourth-quarter profit fell 20.2% as the self-storage industry continues to be plagued by excess capacity. The news sent the company's shares down $2.92, or 9%, to $28.98 in New York Stock Exchange trading. The Glendale real estate investment trust that rents mini warehouses to the public said it earned $67.2 million, or 20 cents a share, compared with $84.2 million, or 38 cents, a year ago. Revenue for the period ended Dec. 31 rose 4% to $209.2 million.
BUSINESS
April 11, 1990 | LESLIE ZGANJAR, ASSOCIATED PRESS
Self-storage facilities have long been thought of as those places where people squirrel away all the stuff that they don't have room for but just can't seem to part with. Not so, says John Logan, a sociology professor at the State University of New York at Albany. "People hanging on to things is what shows up more in people's garages and attics," Logan says. "Keeping things for a long time for nothing more than personal attachment is a luxury.
BUSINESS
March 13, 1990 | JAMES F. PELTZ, TIMES STAFF WRITER
Wayne Hughes is not a household name, but his trademark is commonplace: Those bright orange signs denoting Public Storage self-storage warehouses, where people rent garage-size rooms for $60 or $80 a month to store furniture, clothes and who knows what. Since co-founding the Glendale-based company in 1972, B. Wayne Hughes Sr. has built Public Storage Inc.
CALIFORNIA | LOCAL
January 12, 1999 | JENNIFER PENDLETON, SPECIAL TO THE TIMES
Real estate investment trusts took a beating in 1998, but some believe the time is right for recovery, at least for companies with the financial firepower to outperform the competition. A leading candidate, according to some Wall Street analysts, is Public Storage Inc., the Glendale-based owner and operator of mini-warehouse facilities and pioneer of the self-storage industry. Jefferies & Co.'s Mark D.
CALIFORNIA | LOCAL
July 28, 2002 | STEVE CHAWKINS, TIMES STAFF WRITER
For some collectors, aging fine wine is as simple as a stroll to the cellar. But others have little access to the dark and silent temperature-controlled havens where the grapes of worth are stored. Instead, they stash cases of wine in bedroom closets and on top of refrigerators where hefty investments easily can turn sour. In the last year, though, at least four Southern California self-storage facilities have opened wine cellars for enthusiasts who don't have their own.
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