Exhibit 99.1

Sovran Self Storage Reports Third Quarter Results, Adjusted FFO per Share Increases 15.8%, Acquires Eight Properties for $87 Million

BUFFALO, N.Y.--(BUSINESS WIRE)--October 29, 2014--Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), reported operating results for the quarter ended September 30, 2014.

Net income available to common shareholders for the third quarter of 2014 was $25.6 million or $0.77 per fully diluted common share. Included in the 2014 net income is a $1.8 million gain related to the sale of a Texas storage facility. For the same period in 2013, net income available to common shareholders was $19.7 million or $0.62 per fully diluted common share.

Funds from operations (FFO) for the quarter were $1.12 per fully diluted common share compared to $0.98 for the same period last year. In the third quarter of 2014, the Company incurred net acquisition costs of $1.2 million in connection with its property purchases and had a straight line rent adjustment of $0.5 million relating to the lease expense of the former Westy properties. In the third quarter of 2013, the Company incurred $0.8 million of acquisition costs but no straight-line rent adjustment. Absent these charges, adjusted FFO per share was $1.17 and $1.01 for the third quarter of 2014 and 2013, respectively.

Improved occupancies and rising rental rates resulted in strong FFO growth.

OPERATIONS:

Total revenues increased 21.0% over last year’s third quarter, while operating costs increased 16.4%, resulting in an NOI ⁽³⁾ increase of 23.1%. Overall occupancy averaged 90.9% for the period, and rental rates averaged $12.19 per sq. ft.

Revenues for the 385 stores wholly owned by the Company since January 1, 2013 increased 7.0% from those of the third quarter of 2013, the result of a 140 basis point increase in average occupancy, a 4.4% increase in rental rates and strong growth in insurance commissions.

Same store operating expenses increased 2.4% for the third quarter of 2014 compared to the prior year period, primarily the result of increased repair and maintenance costs caused by the Pacific storms that affected Arizona early in the quarter.

Consequently, same store net operating income increased 9.2% this period over the third quarter of 2013.

“We are pleased with another quarter of solid earnings,” said Andrew Gregoire, CFO. “Our Revenue Management System has been driving exceptional top line growth. The system made pricing adjustments during the third quarter in anticipation of the off-peak season, and we are well positioned for strong year-end performance.”

General and administrative expenses increased by approximately $1.1 million over the same period in 2013, primarily due to increases in costs associated with operating more stores during the quarter than at this time last year.

During the third quarter of 2014, the Company experienced same store revenue and NOI growth in every state in which it operates. The stores with the strongest revenue impact include those in Texas, Florida, Illinois, and Georgia.

PROPERTIES:

The Company acquired five self storage facilities for a total cost of approximately $46 million in the third quarter.

The properties total approximately 345,000 square feet and are all located in markets where the Company already has a presence: San Antonio, TX; St. Petersburg, FL; Chesapeake, VA; Chattanooga, TN and Northern NJ.

Subsequent to quarter end, the Company acquired three facilities totaling 292,000 sq. ft. for approximately $41 million. One of the facilities is in New Orleans, LA; one is near Orlando, FL, and the other is in Austin, TX.

In August, the Company also sold one of its Houston, TX stores for net proceeds of $4.9 million resulting in a gain of $1.8 million.

CAPITAL TRANSACTIONS:

Illustrated below are key financial ratios at September 30, 2014:

• Debt to Enterprise Value (at $74.36/share) 23.0%
• Debt to Book Cost of Storage Facilities 35.6%
• Debt to EBITDA Ratio 4.0x
• Debt Service Coverage 5.2x

At September 30, 2014, the Company had approximately $7 million of cash on hand, and $174 million available on its line of credit (without considering the additional $75 million available under the expansion feature).

The Company issued 424,403 shares of its common stock via its previously announced ATM program during the quarter at an average price of $78.46 per share, resulting in net proceeds of $32.9 million after issuance costs. The Company used the proceeds to fund the purchase of the aforementioned properties and to pay down its line of credit. In July, the Company issued 39,162 shares at an average price of $75.81 through its Dividend Reinvestment Plan.

COMMON STOCK DIVIDEND:

Subsequent to quarter end, the Company announced a quarterly dividend of $0.68 per share or $2.72 annualized.

YEAR 2014 EARNINGS GUIDANCE:

Management is encouraged by its occupancy gains and its ability to attain significant rental rate growth in most markets. The following assumptions covering operations have been utilized in formulating guidance for the fourth quarter and full year 2014:

The Company intends to complete up to $20 million on its expansion and enhancement program. It has also budgeted $16 million to provide for recurring capitalized expenditures including roofing, paving, and office renovations.

In addition to the $278 million of properties acquired by the Company through October 28, 2014, it has assumed $10 million of additional acquisitions in 2014, exclusive of investments in joint ventures. Per share FFO guidance is projected after adding back third party acquisition costs. Purchases of additional properties are expected to be funded via proceeds from the Company’s ATM program and draws on its line of credit which carries an interest rate of LIBOR plus 1.5%.

Annual general and administrative expenses are expected to be approximately $40 million. The increase over the prior year is primarily due to the need for additional personnel required for recent acquisitions, income taxes on its taxable REIT subsidiaries, and the Company’s plans to continue expanding its internet marketing presence, Corporate Alliance and third party management programs.

At September 30, 2014, the Company had 33.7 million shares of common stock outstanding and 0.2 million Operating Partnership Units outstanding.

As a result of the above assumptions, management expects funds from operations for the full year 2014 to be approximately $4.33 to $4.37 per share, and between $1.10 and $1.14 per share for the fourth quarter of 2014.

FORWARD LOOKING STATEMENTS:

When used within this news release, the words “intends,” “believes,” “expects,” “anticipates,” and similar expressions are intended to identify “forward looking statements” within the meaning of that term in Section 27A of the Securities Act of 1933, and in Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Such factors include, but are not limited to, the effect of competition from new self storage facilities, which could cause rents and occupancy rates to decline; the Company’s ability to evaluate, finance and integrate acquired businesses into the Company’s existing business and operations; the Company’s existing indebtedness may mature in an unfavorable credit environment, preventing refinancing or forcing refinancing of the indebtedness on terms that are not as favorable as the existing terms; interest rates may fluctuate, impacting costs associated with the Company’s outstanding floating rate debt; the Company’s ability to comply with debt covenants; the future ratings on the Company’s debt instruments; the regional concentration of the Company’s business may subject it to economic downturns in the states of Florida and Texas; the Company’s ability to effectively compete in the industries in which it does business; the Company’s reliance on its call center; the Company’s cash flow may be insufficient to meet required payments of principal, interest and dividends; and tax law changes which may change the taxability of future income.

CONFERENCE CALL:

Sovran Self Storage will hold its Third Quarter Earnings Release Conference Call at 9:00 a.m. Eastern Time on Thursday, October 30, 2014. To access the conference call, dial 877.407.8033 (domestic), or 201.689.8033 (international). Management will accept questions from registered financial analysts after prepared remarks; all others are encouraged to listen to the call via webcast by accessing “news and events” under the investor relations tab at www.unclebobs.com/company/.

The webcast will be archived for a period of 90 days; a telephone replay will also be available for 72 hours by calling 877.660.6853 and entering conference ID 13592918.

ABOUT SOVRAN SELF STORAGE, INC:

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates 506 self storage facilities in 25 states under the name “Uncle Bob’s Self Storage”^®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter.

CONTACT:
Sovran Self Storage, Inc.
Diane Piegza
Vice President
Investor Relations and Community Affairs
716-650-6115