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Salt Lake City — Extra Space Storage Inc. has entered into a definitive agreement to acquire a portfolio of 17 self-storage properties in Virginia for an aggregate purchase price of approximately $200 million in cash. This portfolio consists of approximately 1.5 million square feet of net rentable space in approximately 14,000 units. As of Sept. 30, about 90 percent of the net rentable space at these properties was occupied.
The acquisition of the 17 properties is subject to the completion of due diligence and the satisfaction of other closing conditions. The company intends to complete the acquisition in or about January 2014.