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We are excited to announce the acquisition of Storage Express! Storage Express currently owns a 107-property portfolio across Indiana, Ohio, Illinois, and Kentucky. Uniquely, they operate smaller facilities in more rural markets with remote rentals. Our CEO, Joe Margolis, commented, "In addition to increased scale, this acquisition provides a new growth channel for Extra Space Storage to add smaller, remote-managed stores in both new and existing markets through acquisition and third-party management. I want to thank the employees of both companies for their hard work and strong execution on this transaction." Our core business – operating large storage facilities with a store manager on-site to take care of customers and the property – will remain our core business.
What has been your favorite recent volunteer experience? At two division meetings in California and Texas, #TeamExtraSpace partnered again with Ticket to Dream Foundation to build backpacks with supplies for foster kids! We are passionate about uplifting the communities we serve. Thank you to all who participated!
CEO Joe Margolis said, "We're off to an exceptional start to 2022, driven by high occupancy and strong pricing power, resulting in same-store revenue growth of 21.7% and same-store NOI growth of 27.6%, both all-time highs for Extra Space Storage." Take a look at what contributed to our success in this first quarter. As always, thank you to our teammates, investors, partners, and customers!
Extra Space Storage is one of Newsweek's Most Trustworthy Companies! Newsweek explains, "We looked at publicly traded U.S. corporations in 22 industries with $500 million or more in annual revenues and then surveyed 50,000 U.S. residents. Respondents were asked about companies they knew well and were, asked among other things, if they believed individual companies treated their customers fairly, treated their employees fairly and would be good long-term investments." Based on customer trust, investor trust, and employee trust, Extra Space is yet again, award-winning! Thank you to all of our teammates and partners who contribute to this achievement.
#TeamExtraSpace really showed off in 2021! Our people are what make this company so extraordinary. Read about these highlights from the past year here:
#TeamExtraSpace really showed off in 2021! Our people are what make this company so extraordinary. Read about these highlights from the past year here:
“We always say that the best days of our company are ahead of us and every year we prove it to be true. No matter the challenges, we will innovate today to deliver a better tomorrow. With our reliable portfolio, robust platform, and resilient team of people, we are building value for our shareholders, no matter the economic cycles.” - Joseph D. Margolis, Chief Executive Officer at Extra Space Storage See our 2020 Annual Report now! Read the CEO Letter for a great overview of the successes we saw in 2020 and what we're looking forward to in the years to come:
Extra Space Storage Recognized in Utah Business’ 2020 Fast 50 List
We are actively monitoring COVID-19 and are taking all reasonable and precautionary measures. We strive to live our company values and do the right thing by our customers.
"Our total 10-year return has not only been the highest in the storage sector, but of any publicly traded REIT in the United States, at 1,167%," says Joseph D. Margolis, Chief Executive Officer of Extra Space Storage. Read the 2019 Annual Report now!
