Storage Deluxe Announces Opening of New Facility in the Bronx, New York

Facility Features First Drive-up Access Units in the Bronx

NEW YORK, New York, March 14, 2001 -- Storage Deluxe, a Manhattan-based owner, developer and manager of self storage facilities announced today the opening of a newly constructed property in the Bronx, New York. The facility is strategically located at 200 East 135th Street, between the Madison Avenue and 3rd Avenue Bridges, just off the Major Deegan Expressway.

The 130,000 square foot facility features a four-story building containing over 1,100 self storage units and three, one-story buildings with 180 specially designed, direct access, Unidades con acceso vehicular. Other amenities include Acceso las 24 horas, free pick-up, state-of-the-art security system, Gerencia en las instalaciones, climate-controlled units and a fully equipped Centro de negocios.

The newly constructed self-storage facility represents the first phase of development on the 6.5-acre site. A second phase will provide an additional 125,000 square feet of self-storage.

Commenting on the opening, Steven Novenstein, Partner and Chief Operating Officer for Storage Deluxe stated, "We believe that our 135th Street property offers a product that is unique to the New York market. Our goal is to provide area residents and businesses with the most modern, convenient and highest quality self-storage product. The facility offers the only Acceso directo con su vehĂ­culo units currently available in the Bronx."

About Storage Deluxe

Storage Deluxe is a real estate company specializing in the acquisition, development, and management of self-storage properties. The company owns, has interest in, and manages six facilities containing over 600,000 square feet of storage space in the greater New York area. For more information, contact Steven Novenstein, Partner/Chief Operating Officer at (212) 309-8709.