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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.
The Lock Up was founded in 1976 by Robert Soudan and Charles Sample, who built their first self-storage facility in Northbrook, Illinois. Later, Soudan’s son, Bob Soudan, Jr., took over as president of The Lock Up. Soudan Jr. has also served as regional president, director and national president of the Self Storage Association.
A packaged terminal air conditioner (PTAC) is a type of self-contained heating and air conditioning system intended to be mounted through a wall. [1] The first practical semi-portable air conditioning unit invented by engineers at Chrysler Motors. It entered the market in 1935, and was designed to fit under a window like many modern PTACs. [2]
It is the largest brand of self-storage services in the US. [2] In 2008, it was the largest of four publicly traded storage REITs. [3] There are more than 2,200 Public Storage self-storage locations in the US, Canada and Europe. It also owns 42 percent of an office parks subsidiary, sells packing supplies, and provides other services.
As major cities run short of living space, self-storage boxes are now becoming a relevant service in many parts of the world. The service is particularly attractive to clients because its pick-up services save time and effort for the inhabitants of metropolitan areas such as Hong Kong, New York City, [8] London, [citation needed] and Berlin, but in particular in the Asian world.
CubeSmart is a real estate investment trust that invests in self storage facilities in the United States. As of December 31, 2022, it owned 611 self storage properties in 24 states and the District of Columbia containing 44.1 million rentable square feet. [1] It is the 3rd largest self storage company in the United States.
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