Life Storage, Inc., (NYSE:LSI), announced today that 63 of its properties in Houston and Beaumont, TX have reopened for business. These represent a total of 4.7 million sq. ft. and 39,000 storage spaces. Six Life Storage properties remain temporarily closed due to the impact of Hurricane Harvey. Of these, three stores are wholly owned by the Company and represent 251,000 sq. ft and 2,100 storage spaces. The remaining three stores totaling 332,000 sq. ft. and 2,300 spaces are joint venture locations in which the Company is a 20% owner. Given the continued flooding and effects of the storm, there may be additional closings over the Labor Day weekend.
“We recognize that this has been a traumatic time for the residents of Southeast TX, and our thoughts and prayers are with everyone affected,” said David Rogers, CEO. “Our focus has been, and will continue to be, on the safety and well-being of our Life Storage associates and our customers. We are committed to doing our part to help the community recover from this disaster.”
ABOUT LIFE STORAGE, INC:
Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company is one of the largest operators in the world with approximately 700 self storage facilities in 29 states. For more information, visit http://invest.lifestorage.com/.
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Contacts:
Diane Piegza, 716-650-6115
Vice President,
Investor Relations & Community Affairs
