Public Storage pays $121.5M for more space

Public Storage Inc. of Glendale said Friday it has bought 32 facilities in Minnesota, Texas and Wisconsin that contain over 2 million square feet of rentable space for $121.5 million.

The square footage should equal out to about 14,800 units it will be able to rent out in those states. The company, which operates in 37 states, said it made the purchases this week, but it did not say who it bought the facilities from.

Public Storage (NYSE: PSA) is a self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. As of June 30, the company had interests in 1,415 storage facilities with approximately 85.7 million net rentable square feet and 810,000 rentable units. The company employs about 4,500.