USA Storage

January 27, 2010: 05:40 PM ET

Extra Space Storage Inc. (”Extra Space” or the “Company”) (NYSE: EXR) announced today that it has closed its previously announced joint venture (the “JV”) with an affiliate of Harrison Street Real Estate Capital, LLC (”HSRE”).

HSRE contributed approximately $15.8 million in cash to the JV in return for a 50.0% ownership interest. The Company contributed 19 wholly-owned properties and received approximately $15.8 million in cash and a 50.0% ownership interest in the JV. The JV assumed approximately $101.0 million of debt which is secured by the properties. The properties are located in California, Florida, Nevada, Ohio, Pennsylvania, Tennessee, Texas and Virginia. The Company will continue to operate the properties.

Forward-Looking Statements

Certain information set forth in this release contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as “believes,” “estimates,” “expects,” “plans,” “may,” “will,” “should,” “anticipates,” or “intends” or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by us or on our behalf, are also expressly qualified by these cautionary statements.

All forward-looking statements are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them, but there can be no assurance that management’s expectations, beliefs and projections will result or be achieved. All forward-looking statements apply only as of the date made. We undertake no obligation to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in or contemplated by this release. Any forward-looking statements should be considered in light of the risks referenced in the “Risk Factors” section included in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Such factors include, but are not limited to:

– the possibility that the joint venture transaction may not close on the
terms described in this release, or at all, or that the expected benefits
from the transaction may not be realized;
– changes in general economic conditions and in the markets in which we
operate;
– the effect of competition from new self-storage facilities or other
storage alternatives, which could cause rents and occupancy rates to
decline;
– potential liability for uninsured losses and environmental contamination;
– difficulties in our ability to evaluate, finance and integrate acquired
and developed properties into our existing operations and to lease up those
properties, which could adversely affect our profitability;
– the impact of the regulatory environment as well as national, state, and
local laws and regulations including, without limitation, those governing
REITs, which could increase our expenses and reduce our cash available for
distribution;
– recent disruptions in credit and financial markets and resulting
difficulties in raising capital at reasonable rates, which could impede our
ability to grow;
– economic uncertainty due to the impact of war or terrorism, which could
adversely affect our business plan;
– the successful realignment of our executive management team; and
– our ability to attract and retain qualified personnel and management
members.

About Extra Space Storage Inc.

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a fully integrated, self-administered and self-managed real estate investment trust that owns and/or operates 766 self-storage properties in 33 states and Washington, D.C. The Company’s properties comprise approximately 510,000 units and over 55 million square feet of rentable space. The Company is the second largest owner and/or operator of self-storage properties in the United States.

About Harrison Street Real Estate Capital LLC.

Harrison Street’s model is to invest in areas of the real estate market in which tenant demand is driven from education, healthcare or storage related activities. These sectors principally include self-storage, student housing, senior housing/assisted living, and medical office/healthcare. Harrison Street on behalf of Harrison Street Real Estate Partners I, LP and Harrison Street Real Estate Partners II, LP have acquired or is in the process of developing over 170+ properties worth greater than $2.0 billion. As of January 2010 Harrison Street has acquired or has under development throughout 31 states in the U.S. over 3,600 senior housing units, 60,415 storage units, 12,930 student housing beds, 2,790 dry and wet boat slips and 850,000 square feet of medical office space.

For Information:
James Overturf
Extra Space Storage Inc.
(801) 365-4501
Clint Halverson
Extra Space Storage Inc.
(801) 365-4797
Extra Space Storage Inc.
PHONE (801) 562-5556
FAX (801) 562-5579
2795 East Cottonwood Parkway, Suite 400
Salt Lake City, Utah 84121
www.extraspace.com

Author : Self Storage Association (SSA)
Category : Press Release
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ALEXANDRIA, Va. - (Business Wire) This April the national Self Storage Association (SSA) will celebrate its 35th Anniversary in the same state where it started: Colorado. Some 1,000 self storage executives, owners, investors and industry vendors will meet in picturesque Colorado Springs to engage in high level discussions on the national economy and its implications for the industry. Also attendees will hear from prominent industry leaders, including keynote speaker Ronald L. Havner, Jr., President & CEO of the industry’s largest company, Public Storage, Inc., of Glendale, CA (NYSE:PSA).

SSA’s 2010 Spring Convention & Trade Show will take place April 18th-20th at The Broadmoor Resort. The Association was established in 1975 at Denver and was first managed by Colorado native Arthur “Buzz” Victor.

The executive-level educational program is serious business for professionals in this $20-plus billion per year industry. In addition to keynoter Ron Havner, the program includes featured speakers: Robyn Waters, on tracking and translating trends into sales and profit, and Norm Brodsky, who has founded and grown six businesses, including self storage facilities.

The program will commence Sunday, April 18 with SSA’s third Economic Summit dealing with “Capital Markets and Loan Workouts, Modifications and Extensions” featuring panels of lenders, mortgage brokers, investment brokers, bankers and self storage CEOs.

“This important industry assembly is set to take place at a critical point in time in the nation’s economic recovery,” stated SSA President & CEO, Michael T. Scanlon, Jr. “As we learn from the experts how the national economy is evolving in early 2010, self storage owners can better ascertain the expected banking, customer and economic impacts on their individual businesses. Thus, this is a crucial meeting – one not to be missed,” Scanlon added.

In addition, the program will feature special sessions specifically designed for “Team One” firms (small and single facility owner-operators), the Mid-Sized Operators Group (companies with 2-9 facilities) and the Large Operators Council (companies of 10 or more facilities).

There will be an “Idea Exchange” on the opening day with an “open mic” where operators can network, ask questions and get experienced advice from their peers. Also, a Legal Forum will take place with latest information from court decisions, legislative bills, new laws, and legal opinions relating to self storage operational use of the Internet, kiosks as well as state lien law updates and the latest update on regulations with regard to storage of customer-abandoned records privacy.

Industry professionals are encouraged to visit www.selfstorage.org for much more information, a full brochure, and to register. Registration discounts are available though March 29th, 2010. Attendees should call The Broadmoor Resort directly at 800-634-7711 to reserve their specially priced room (via the SSA room block). Resort discounts are available through March 17th, 2010.

About the Self Storage Association

Founded in 1975, the Self Storage Association (SSA) is the official national not-for-profit trade association for the industry and its registered lobbying organization before the U.S. Congress and federal agencies. The SSA serves the $22.0 billion (annual revenues) self storage industry including thousands companies, owner-operators, investors, facility managers and vendors. The SSA represents some 3,000 direct member companies and another 3,000 indirect member firms via twenty-six (26) affiliated state and regional associations. Together, SSA members own and operate a total of some 22,000 facilities in the US. Members are from the U.S., Canada and 29 other nations around the globe. SSA direct members range from individual facility owner-operators to multiple-facility operations, to the industry’s largest publicly traded Real Estate Investment Trusts (REITs).

For more information please go to: www.selfstorage.org.

Self Storage Association (SSA)
Timothy J. Dietz
SSA VP, Communications
703-575-8000 x112
tdietz@selfstorage.org

Copyright © 2008 Business Wire. All rights reserved.

Capital Self Storage, which renovated the former Coca-Cola bottling plant at 2611 E. Market St. in 2007, will proceed with its expansion plans.

The Springettsbury supervisors unanimously approved a plan that will provide the facility with an additional 38,000 square feet and 350 additional storage units.

Because the facility is so close to the street limited landscaping and buffering will be required.

Courtesy of Thw Newyorkdispatch.com

A fire early Monday heavily damaged a storage facility in south Bakersfield.

A palm tree first caught fire around 3 a.m. at the A-American Self Storage facility in the 700 block of Weedpatch Hwy.

The flames spread to the building, heavily damaging eight storage units.

Approximately 25 Kern County firefighters responded, assisted by firefighters from Bakersfield City Fire Department.

The fire did about $200,000 in damage, though fire crews noted they were able to prevent an estimated additional $1 million in destruction.

There were no reported injuries.

Courtesy of KGET.COM

* O’Brien says he’s leaving ‘the best job in the world’

He takes shots at, as well as thank, NBC (Adds details, quotes)

By Chris Michaud

NEW YORK, Jan 22 (Reuters) - Conan O’Brien ended his brief stint as host of the “The Tonight Show” on Friday, taking shots at NBC but ultimately taking the high road and thanking his former employer for a chance at “the best job in the world.”

“This company has been my home for most of my adult life,” O’Brien told the Burbank, California, audience and home viewers during his final moments on the show, which began with a sustained standing ovation from the fans who chanted “Conan, Conan.”

“Thank you, that’s going to have to last me awhile,” he cracked once they settled down.”

 Late in the show the host struck a more serious note, saying “Tonight I’m allowed to say anything I want.”

 ”I am enormously proud of the work we have done together, and I want to thank NBC for making it all possible,” he said.

 Still, in his opening monologue O’Brien offered a list of possible uses for the soon-to-be vacated studio built expressly for his widely publicized assumption of “Tonight Show” hosting duties last year.

 Among the suggestions were a “storage facility for apology notes to NBC stockholders,” and “leave the studio cold and empty and rename it “The World’s Largest Metaphor For NBC Programing.”

 Joining O’Brien for his last show were actor Tom Hanks, comedian Will Ferrell who appeared on O’Brien’s first “Tonight” show, and singer Neil Young, who performed “Long May You Run.”

 Thursday night’s show featured a surprise appearance by Ben Stiller, as well as an X-rated performance by Robin Williams that targeted NBC and was bleeped out several times.

In one of his trademark self-deprecating jabs, O’Brien joked that when the inevitable HBO film is made of the debacle, “I’d like to be played by Academy-Award winning actress Tilda Swinton,” who, like O’Brien, is a fair-skinned redhead.

Steve Carell of the NBC satirical comedy “The Office” conducted O’Brien’s “exit interview” in a surprise appearance.

“Did anything trigger your decision to leave,” he inquired, deadpan, before presenting O’Brien with a termination packet which included information on continuing education. Finally Carell asked the star for his company ID badge, which he fed into a shredder.

 JAY LENO TO RETURN FROM MARCH

 O’Brien’s swan song in one of U.S. television’s most coveted and high-profile jobs capped two weeks of acrimonious sniping, much of it on-air, that ended with a $45 million exit deal which will allow the show’s previous host, Jay Leno, to return to the flagship late-night talk show.

 After more than a week of negotiations, General Electric Co’s (GE.N) NBC said it had agreed to release O’Brien from his contract after seven months, and that he would be free to take a new job elsewhere after Sept. 1.

 The struggling network, already bottom of the four big U.S. TV networks and now the butt of jokes by its own and rival comics, said Leno will return as host of “The Tonight Show” on March 1.

 Leno hosted the program for 17 years, making it the top-rated late-night talk show on U.S. television. He handed over to O’Brien in June, only to see audiences slump, while Leno’s own prime-time talk show floundered as well.

 Leno’s name went unmentioned during O’Brien’s final show.

 At the conclusion, the outgoing host somberly told his audience:

 ”Walking away from ‘The Tonight Show’ is the hardest thing I have ever had to do.

 ”This is the best job in the world, I absolutely love doing it … I did it my way, with people I love and I do not regret a second. I’ve had more good fortune than anyone I know.”

 He ended the show by joining Ferrell in a rendition of Lynyrd Skynyrd’s “Free Bird.” (Editing by Mohammad Zargham)

Courtesy of  Reusters

Austin, TX has become one of the biggest college towns in the United States, and college football is just one of the reasons why. Austin is home to the University of Texas at Austin, the main headquarters for the University of Texas system. Several smaller colleges such as Austin Community College and Virgina College are located in Austin, as well as various theological institutions. Whether you are sending your child off to college in Austin, or you are a college student with a packed dorm room, Self Storage in Austin, TX can easily be found to best fit your needs.

With the recent Georgia floods, several families have been left devastated and homeless. Storage First has offered 90 days free rent to flood victims. U-Store-It will also be offering one month of free self storage for flood victims from now until October 31st. U-Store-It has 9 facilities in the Atlanta region that are offering this benefit. SpaceMax will be offering one and a half months of free rent and free moving truck rentals to flood victims. You can call the Red Cross for a full listing of Georgia Self Storage Facilities offering aid to flood victims.

Phoenix, AZ, September 08, 2009 –(PR.com)– On September 30, 2009, MiniCo Publishing will host a free webinar presented by two veteran self-storage professionals offering detailed information about the benefits of RV and boat storage as well as tips to navigate the development process. The webinar “A Change in Course: Boat & RV Storage is a Good Direction” is sponsored by Mako Steel, Inc., and will be presented by the company’s President, Caesar Wright, and L. Bruce McCardle, Vice President of Eastern Operations.

This informative webinar will explain the figures, land requirements, construction trends and costs associated with building a storage facility to accommodate boat and RV owners. Topics will include the following:

· Get Your Bearings: a realistic look at facts and figures
· The High Ground: maximizing land utilization
· Watch Your Ballast: the amenities customers really want
· Don’t Get Dinghy: construction trends that won’t sink your budget
· Keep Your Hands on the Wheel: navigating through construction costs

The webinar will be moderated by Poppy Behrens, Publisher, MiniCo Publishing, as part of the ongoing Mini-Storage Messenger Self-Storage Webinar Series, which offers informative monthly webinars free of charge to self-storage professionals and other individuals. For more information or to register, visit www.ministoragemessenger.com. Online registration is required for this free live event.

MiniCo Publishing, a division of MiniCo, Inc., publishes the “Mini-Storage Messenger,” the leading monthly trade magazine covering the global self-storage industry. Other publications include “Self-Storage Now!,” “Mobile Self-Storage Magazine,” “RV & Boat Storage Today,” “Self‑Storage Canada,” the “Self-Storage Almanac,” the “Self-Storage Development Handbook,” and the “Self‑Storage Buyer’s Guide.”

Since 1974, Phoenix-based MiniCo, Inc. has been a self-storage leader providing superior specialty insurance programs, informative publications and valuable products and services created expressly for the self‑storage industry.

It is college moving season again, and many parents may be searching for an affordable storage facility to store their child’s belongings in over the summer. Los Angeles, CA is one of the biggest college towns in the country. It is home to several prestigious universities such as USC, UCLA, and Loyola Marymount. Not to mention several smaller colleges such as CSU-LA, CSU Fullerton, and Biola University. Storquest Self Storage is one of the leaders in storage in the Los Angeles Area with several locations all over the country along with affordable unit prices.

There are several national self storage directories, however www.ineedstorage.com is the only self storage directory strictly focusing on storage for California. There are over 100 recommended facilities so you will be sure to find the best storage facility. Public Storage, Extra Space, and U-Store-It all offer online reservations at this website for your convenience.

Need2Store.com also offers the same thing for the State of Florida, and SelfStorage-Texas.com for the state of Texas