Public Storage Opens Biggest Facility in U.S.

Public Storage this week will open its largest facility in the United States. The Glendale real estate investment trust has opened the remaining units for Public Storage at 133 Second St. in Jersey City, N.J. The facility, which occupies an entire city block, has 3,978 rentable units. The company developed the Jersey City property by converting a 100-year-old cold-storage warehouse into storage units, according to Public Storage’s official blog. The company performed the conversion because of Jersey City’s proximity to New York City, where land values are much higher. The facility first opened in February and only has about 300 units still available. The company plans to hold a ribbon cutting on March 25. Public Storage shares closed Monday down 81 cents, or a fraction of a percent, at $217.26 on the New York Stock Exchange.