Public Storage 2000 Annual Report Download - page 4

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2
P
UBLIC
S
TORAGE
, I
NC
. 2000 A
NNUAL
R
EPORT
Our leadership is largely attributable to the outstanding loca-
tions of most of our self-storage facilities. We have aggressively
identified, acquired and developed properties in major metro-
politan areas throughout the United States. We own a substantial
percentage of the higher-rent self-storage space in or near major
cities in 37 states; none of our competitors operates portfolios
that have comparable market penetration. We believe our 1,361
properties, and our intensive property management system,
enable us to compete effectively in a competitive industry.
Of equal importance is employing a unifying strategy to tie
together our operational strengths. Our goal during 2000 was to
further implement our Convenience Strategy, designed to satisfy
the customer’s specific storage needs while generating increasing
funds from operations.
O
UR
C
ONVENIENCE
S
TRATEGY
In today’s fast-paced environment, self-storage customers want
reliable, hassle-free solutions to address a range of storage prob-
lems: from how to find and use clean, well-managed self-storage
to how to economically transport their belongings across town,
the state or the country. Finding solutions to storage problems
benefits both the customer and our company. Our many superior
property locations, clean, well-managed storage space, comple-
mentary businesses addressing the entire storage decision and
quality customer service add value to the customer’s storage
experience and encourage customers to make their storage
decisions based upon factors in addition to price.
Through our Convenience Strategy, we encourage our
onsite property managers to be flexible, informed and customer
responsive, allowing them to see what effective customer service
means to the customer.
A changing, expanding population will present challenges
and opportunities as the new century unfolds. The possessions
that future generations store may differ from what the baby
boomer generation stored. Despite these emerging trends, we
T
O
O
UR
S
HAREHOLDERS
Portable self-storage enables customers to pack up and move at
their convenience.