SALT LAKE CITY, July 19, 2021 /PRNewswire/ -- Extra Space
Storage, Inc. (NYSE: EXR), a Real Estate Investment Trust and
member of the S&P 500, is celebrating onboarding their
2,000th property. The company, which was founded in 1977
and went public in 2004, has doubled in store count since 2013.
"The self-storage industry continues to prove itself as stable
and resilient. While the sector is competitive, our advanced
technology, high-performing team and great platform continue to
produce strong results, allowing us to continue our accretive
growth nationwide," said CEO Joe
Margolis.
Extra Space Storage now operates over 2,000 stores across 40
states and Washington, D.C. These
stores provide 1.4 million units, creating 156 million square feet
of rentable space. In 2020, Extra Space invested over $900 million in external growth investments.
Extra Space's property growth comes from multiple sources. Of
the 2000 stores, 53 percent are wholly owned properties acquired by
the REIT, seven percent are owned in a joint venture with partners,
and 40 percent are managed on behalf of independent owners by Extra
Space Storage's ManagementPlus platform. Extra Space is the largest
self-storage management company in the U.S. and has won Inside
Self-Storage's "Best Third-Party Management Company" award
consistently over the past decade.
"We've been looking forward to hitting this growth milestone.
It's a big marker for our team and shows the exceptional work our
4,000+ employees have put into growing our company," said CEO
Joe Margolis. "Looking ahead, we
have a very promising future. I believe we have the deepest and
strongest team in the industry, and I'm grateful to work alongside
so many talented individuals here at Extra Space."
In 2020, Extra Space was named a "Best Places to Work" by
Glassdoor and was the 90th ranked company out of over 1 million
companies considered. Extra Space was also named by Forbes as
a "Best Employer for Diversity and won the "Leader in the Light"
award from National Association of Real Estate Investment Trusts
(NAREIT) – marking the first time a self-storage company was
recognized for their sustainability efforts by NAREIT. Learn about
joining the Extra Space team at careers.extraspace.com/
About Extra Space Storage
Extra Space Storage
Inc., headquartered in Salt Lake City, Utah, is a self-administered and
self-managed REIT and a member of the S&P 500. As of
July 19, 2021, Extra Space Storage
operates over 2,000 self-storage stores comprising approximately
1.4 million units and approximately 156 million square feet of
rentable space. Extra Space Storage offers customers a wide
selection of conveniently located and secure storage units across
the country, including boat storage, RV storage and business
storage. Extra Space Storage is the second largest owner and/or
operator of self-storage stores in the United States and
is the largest self-storage management company in the
United States. Learn more on
extraspace.com.
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SOURCE Extra Space Storage Inc.