Public Storage Inc., a self-storage real estate investment trust (REIT), has opened a new facility in Humble, Texas, a growing suburb that lies northeast of Houston. The three-story asset at 8717 N. Sam Houston Parkway E. comprises 140,000 square feet in 1,183 units. The climate-controlled building includes three drive-up units. The property is part of the REIT’s “ongoing effort to expand in the region,” according to a press release.
“A lot of the storage facilities near Humble are older, far away and don’t have climate control,” Dan Matula, vice president of real estate development, said in a blog post published on the company website. “We wanted to build a facility that would look great and provide modern features for people close to their homes.”
The facility uses VRV multi-split air-conditioners from Daikin Industries Ltd., which are specifically designed for commercial structures and use variable refrigerant flow control to help “maintain individual zone control in each room and floor of a building,” according to the manufacturer.
The location is near Lake Houston and five miles from the George Bush Intercontinental Airport. It’s also close to the Fall Creek and Park Lakes neighborhoods. Fall Creek is a 2,000-acre community along Beltway 8, just east of U.S. 59 North.
The REIT is investing in Humble due to population growth and affordable housing, as well as commuter visibility from Beltway 8 and proximity to State Highway 99. Known locally as the Grand Parkway, Highway 99 is an ongoing 180-mile project that will eventually traverse seven counties and encircle the Greater Houston region. Planned since the 1960s to provide better road access between communities, the most recent segments, which are north of Houston, opened to the public last March.
“It is the new, fourth freeway ring around the city,” said Roger Clark, a senior manager who will help oversee the property. “Before you’d have to go into the city and go back out, if you needed to get from the northeast side to the northwest side and alike suburbs. Now they’re all connected.”
Based in Glendale, Calif., Public Storage has interests in 2,354 self-storage facilities in 38 states, with approximately 155 million net rentable square feet. Operating under the Shurgard brand name, the company also has 220 facilities in seven European countries, with approximately 12 million net rentable square feet.