Posted at 1:46 p.m., Thursday, March 8, 2007
Public Storage to buy Honolulu storage facility
Advertiser Staff
California-based Public Storage Inc. said it is buying a 79,000-square-foot public storage facility in Honolulu for about $23 million.The company, which disclosed the deal in a recent earnings announcement, did not identify the facility. But according to an industry report, the only similar sized facility on O'ahu is Akamai Self Storage in 'Ewa Beach.
Akamai Self Storage opened a year ago and was developed by 923 Development Group LLC, an investment group out of Tennessee.
Public Storage, which owns several storage facilities in Hawai'i, said the acquisition is subject to contingencies.
