U-Store-It Is Becoming CubeSmart(SM)
WAYNE, PA -- (Marketwire) -- 09/06/11 -- U-Store-It Trust (NYSE: YSI), a real estate investment trust focused on owning and managing storage facilities with total storage solutions, has hit the refresh button and is proud to introduce CubeSmart(SM), its new brand and company name.
"Brand has become much more important in our industry as the ways our customers find our product have changed," said Dean Jernigan, Chief Executive Officer. "Every day we make significant investments in our marketing efforts and those investments will now support a differentiated brand which will be protected by federal and state laws."
Rebranding company stores to CubeSmart(SM) will begin immediately in certain markets. The Company expects to complete the rebranding for all owned locations by mid-2012. The primary cost of the rebranding relates to the new signage at each of the Company's facilities. Such costs are estimated to be approximately $8 million. The Company expects to change its corporate name to CubeSmart(SM) and to change its ticker symbol on the New York Stock Exchange from YSI to CUBE by the end of 2011.
"The CubeSmart(SM) mission is to provide exceptional value to our customers with traditional passive storage needs as well as customized solutions designed to meet the service and logistics requirements of our commercial and residential customers," said Christopher Marr, President.
CubeSmart(SM) self-storage facilities offer affordable, easily accessible, and, in many locations, climate-controlled storage space for residential and commercial storage customers, as well as boat storage and mini storage. With the launch of the CubeSmart(SM) brand, Customers will continue to benefit from the broad range of flexible leasing options, while gaining access to a far more personalized service.
Visitors may go online to http://www.cubesmart.com to learn more about the company and to find a nearby storage facility. Visitors to cubesmart.com can also view the sizes and features of individual self-storage units, reserve storage space, and pay their storage bills online using a safe, secure online payment function. For more information about business or personal storage visit us online or call CubeSmart(SM) toll free at 1-800-800-1717.