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Sovran Self Storage, Inc., (NYSE:SSS) is a real estate investment trust (REIT) based in Buffalo, NY that acquires, owns, and manages self storage properties.
Since opening our first storage facility in 1985, we have grown to over 550 locations in 26 states. On May 19, 2016, we announced a definitive agreement to acquire LifeStorage, a California-based private operator. This acquisition will add 84 high-quality facilities to our company increasing our presence in existing markets and allowing us to enter, with scale, into Northern California and Las Vegas, NV. Upon completion of the deal, Sovran will operate over 650 self storage facilities in 28 states.
We are well positioned to integrate these properties into our existing portfolio, and we believe that our first rate platforms - web-based marketing, revenue management system, call center and modular training programs - will enable us to drive outsized results.
Diane M. Piegza