Public Storage Opens New Houston-Area Facility

The new facility is located in Richmond, along Grand Parkway, where a housing development boom is increasing demand for storage units. The asset includes 1,200 climate-controlled units and marks the company's seventh Houston acquisition this year.
Public Storage, Richmond, Texas
Public Storage, Richmond, Texas

Public Storage has opened a new self-storage facility with 1,200 units in Richmond, Texas, marking the company’s seventh acquisition in the Houston area this year. In total, Public Storage has opened more than one million square feet of storage space in Houston and its suburbs in 2017.

Located at 8008 W. Grand Parkway South or State Highway 99, the five-story facility is within 30 miles of Houston. The self-storage asset will serve the city of Sugar Land as well, as well as other master communities, including Aliana Houston, Harvest Green and Long Meadow Farms. The newly-developed Richmond facility features climate-controlled units ranging from 25 to 300 square feet.

Strategic location

Due to the expansion of Grand Parkways, new homes are cropping up along the 180-mile outer beltway that connects Houston’s outer suburbs like Richmond, thus increasing demand for self-storage space.

“The vast majority of our portfolio was in older areas, but now we’ve picked up in the new growth areas and expanded along Grand Parkway—the new outer ring around Houston,” said Jarrod Yates, vice president at Public Storage, in prepared remarks.

In October, the company also opened a 890-unit self-storage facility in Plano, Texas.

Image courtesy of Public Storage