Self Storage News

• Storage Deluxe Announces Opening of New Facility in the Bronx, New York
• Storage Deluxe Acquires Building in Bronx, New York
• Storage Deluxe Opens New Facility in the Bronx, New York
• Storage Deluxe Acquires Self-Storage Facility in Freeport, New York
• Storage Deluxe Named SSA Facility of the Month, September 2002
• Storage Deluxe Is Awarded Two Management Contracts
• Storage Deluxe acquires 110,000 SF Building on Brook Avenue in the Bronx, New York
• Storage Deluxe acquires 2887 Atlantic Avenue, Brooklyn, New York, a 90,000 SF Building
• Storage Deluxe acquires 1125 Wyckoff Ave, Queens, NY
• Storage Deluxe acquires 1,400 unit self storage facility (PDF)
• Storage Deluxe acquires 80 S. Kensico Ave., White Plains, NY, a 1,400 Unit Self Storage Facility (PDF)

NEW YORK, New York, August 28, 2003 -- Storage Deluxe, a Manhattan-based owner, developer and manager of self-storage facilities, announced today that it has acquired a 110,000 square foot building located at 395 Brook Avenue, Bronx, New York.

The three-story industrial building will be transformed into a state-of-the-art self-storage building. The property is conveniently located on Brook Avenue, a busy residential area and is in close proximity to Third Avenue, a major retail area in the South Bronx. Upon completion, the property will contain approximately 2,000 self-storage units. The features will include climate-controlled units, individual door alarms, video surveillance and a free pick up service.

With the purchase of the Brook Avenue building, Storage Deluxe now owns and manages four self-storage facilities in the Bronx, consisting of over 615,000 square feet and over 7,800 self-storage units. In addition, Storage Deluxe will add a fifth facility to its Bronx portfolio this fall.

Commenting on the acquisition, Steven Novenstein, Partner and Chief Development Officer stated, "We believe this acquisition provides us with a tremendous investment opportunity. Because of our strong track record in the Bronx, we are confident that through a redevelopment and expansion program, this facility will provide residents and businesses with the most modern, convenient and highest quality self-storage product in the area."

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 seven facilities containing over 1,000,000 square feet of storage space in the greater New York area. Storage Deluxe currently has four more acquisitions scheduled for 2003 and is aggressively searching for more acquisitions and developments. For more information, visit our website at www.storagedeluxe.com.