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That was the word from Smartbox ownerCharlews W.S. MacKenzie in an interview Friday. The move comed at a time when the downturned economg is creating an increased demand from residenta and business owners seeking to downsize and box up the thingsthey can’rt fit into their smallerr homes or offices. MacKenzie declined to disclosr the acquisition price due to a confidentiality agreemenf with PublicStorage (NYSE: PSA). The deal also coincides with Calif.-based Public Storage’s efforts to get out of the portable storage business and concentrate on its moretraditional bricks-andf mortar storage business.
formerly of LLC, said business has been steadily increasingf as homeowners sell their propertie s for smaller condos and apartments and businesses downsize tosmaller “I’ve heard recession-proof,” MacKenzie said of the his nichew in the storage industry. “Iu don’t believe that, but it’s resiliant, we’re helping people Portable storage allows people and businesseds to park a storage contained outside their homesor offices, load up what they need and have the box delivered to a storagew area or to an alternate location. Withinh the industry, Portable On Demanf Storage isthe largest-such operator of portable storage options.
Public Storagew started its business line in thelate 1990s, but the operatioj wasn’t a big enough money maker for the Public Storage spokesman Clemente Teng said in an From as many as 50 facilities nationwide, the companuy has reduced its operations to less than 15 in the past five In Maryland, Smartbox has aboutr 700 boxes, stored in about 33,00o0 square feet in the Elkridge area. With its acquistion of Publivc Storage’s Maryland portfolio, its businese will grow to about 4,500 boxes and another 92,00p square feet of space at facilitiesw in Landoverand Essex.
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