Extra Space Storage Explained

Extra Space Storage Inc.
Type:Public
Founder:Kenneth Woolley
Hq Location:Cottonwood Heights, Utah, U.S.
Key People:Kenneth Woolley (Chairman)
Joseph D. Margolis (CEO)
Industry:Real Estate Investment Trust
Products:Self storage
Revenue: (2024)
Operating Income: US$1.32 billion (2024)
Net Income: US$855 million (2024)
Equity: US$13.9 billion (2024)
Num Employees:8,012 (2024)
Locations:4,011 stores (2024)
Footnotes:[1]

Extra Space Storage Inc. is an American real estate investment trust headquartered in Cottonwood Heights, Utah that invests in self storage facilities. The company rents storage units, including climate controlled units, drive-up units, lockers, boat storage, RV storage and business storage under the brands Extra Space Storage, Life Storage, and Storage Express. As of March 28, 2024 the company owned and/or operated 3,714 locations in 43 states, and Washington, D.C. comprising approximately 2.6 million units 283.4 million square feet of net rentable space.[2] It is the largest owner of self storage units in the United States[3] and the largest self storage property manager.[4]

Extra Space Storage has won NAREIT's Leader in the Light Award for superior and sustained sustainability efforts in 2020, 2021 and 2022.[5] The company has solar installations at many of its properties and was listed on the "Top 25 Corporate Users by Number of Solar Installations" by the Solar Energy Industries Association.[6]

Notes and References

  1. Web site: 2024 Annual Report (Form 10-K) . February 28, 2025 . U.S. Securities and Exchange Commission.
  2. https://ir.extraspace.com/news-releases/news-release-details/extra-space-storage-inc-announces-date-earnings-release-and-63
  3. Web site: Facility Owners . Inside Self-Storage.
  4. Web site: Facility-Management Companies . Inside Self-Storage.
  5. Web site: Leader in the Light Awards . 2023-01-11 . www.reit.com . en.
  6. News: Extra Space Storage Leads Self Storage Sustainability with 400+ Solar Installations . November 22, 2019.