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: (2021)
Net Income: US$877 million (2021)
Equity: US$3.116 billion (2021)
Num Employees:4,048 (2019)
Footnotes:[1]

Extra Space Storage Inc. is a 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] [5]

Extra Space Storage has won NAREIT's Leader in the Light Award for superior and sustained sustainability efforts in 2020, 2021 and 2022.[6] 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.[7]

Notes and References

  1. Web site: Extra Space Storage Inc. 2021 Fourth Quarter and Year End Results . Extra Space Storage.
  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. https://baitmeetz.co.il/ Importance of Storage facilities
  6. Web site: Leader in the Light Awards . 2023-01-11 . www.reit.com . en.
  7. News: Extra Space Storage Leads Self Storage Sustainability with 400+ Solar Installations . November 22, 2019.