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Public Storage Inc. was founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr. It grew to 1,000 locations by 1989, using funding from investors in real estate limited partnerships (RELPs). The private company was re-structured as a publicly traded REIT in 1995, when Storage Equities merged with Public Storage and adopted its name.
Self storage (a shorthand for "self-service storage," and also known as "device storage") is an industry that rents storage space (such as rooms, lockers, containers, and/or outdoor space), also known as "storage units," to tenants, usually on a short-term basis (often month-to-month). Self-storage tenants include businesses and individuals.
Gordon used space in Feghali's residence as well as space in girlfriend's garage. While away, Gordon came up with the concept which he pursued with Feghali. [11] SpareFoot was originally formed as a person-to-person website with the concept of facilitating the rental of extra storage space in private residences to those looking for storage.
Commercial property includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages. In many U.S. states, residential property containing more than a certain number of units qualifies as commercial property for borrowing and tax purposes.
Historically, storage rooms in homes have often been narrow, dark and inconspicuous, and places on floors other than the main floors of the building, such as in a basement or an attic. A storage room can be lockable, and can be located in a housing unit or a common area , indoors or outdoors.
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