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    Storage USA Inc.
    list rank

    From the April 28, 1997 Washington Post

    '96 (in $ 000s) % Change From '95
    Revenue 107,517 58.1
    Net Income 43,526 49.3
    Rank Last Year: 76

    Storage USA is a real estate investment trust that owns, manages, builds and franchises self-storage facilities. It operates 286 self-storage facilities in 31 states and the District, making it the fourth-largest player in the industry.

    Business Resume:
    • Contact Info --
      10440 Little Patuxent Pkwy.
      Columbia, Md. 21044
    • Main Business --
      Real estate investment trust
    • Founded --
    • Chairperson --
      Dean Jernigan (CEO)
    • President --
      Thomas Robinson
    • Employees --
    • D.C.-Area Employees --
    Storage USA spent much of the past year buying storage facilities and raising money to finance the purchases in that order.

    During 1996 the company acquired 82 facilities totaling 5.4 million square feet of space for about $304 million. In addition, the company built two facilities in Northern Virginia at a cost of $9.2 million and completed expansions on five existing facilities.

    Last month Storage sold a 28 percent stake to Security Capital U.S. Realty for $220 million. Also in March it raised an $50.7 million through a public stock offering.

    Copyright 1997 The Washington Post

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