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Public Storage Opens New Self-Storage Facility in Miami

Public Storage Inc., a self-storage real estate investment trust (REIT), opened a new facility this week in Miami. Under development for more than two years, the newly constructed property at 8477 S.W. 40th St. includes six stories and 922 units. The energy-efficient facility uses a climate-control system that conserves electricity by pulling in less outside air for cooling, according to a company press release. The design is expected to dramatically lower the building’s energy consumption, the release stated.

Public Storage Inc., a self-storage real estate investment trust (REIT), opened a new facility this week in Miami. Under development for more than two years, the newly constructed property at 8477 S.W. 40th St. includes six stories and 922 units. The energy-efficient facility uses a climate-control system that conserves electricity by pulling in less outside air for cooling, according to a company press release. The design is expected to dramatically lower the building’s energy consumption, the release stated.

The facility is on a six-lane, east-west thoroughfare known as Bird Road, near Florida International University and the University of Miami. It’s in a commercial corridor that’s well-known for its restaurants and retail, the release stated. It’s also close to single and multi-family residences, and a few blocks from the 275-acre Tropical Park.

Earlier this month, Public Storage opened a new facility in Denver in the Stapleton Business Center, part of Denver’s largest neighborhood.

Based in Glendale, Calif., Public Storage has interests in 2,262 self-storage facilities in 38 states, with approximately 147 million net rentable square feet. Operating under the Shurgard brand name, the company also has 216 facilities in seven European countries, with approximately 11 million net rentable square feet.

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