The company’s properties comprise approximately 1.4 million units
July 20, 2021: Extra Space Storage Inc. has surpassed 2,000 storage facilities in its owned and managed portfolio. The company has doubled its storage count in the last 7 years. Extra Space invested more than $900 million in “external growth investments” in the last year. according to a press release.
The company’s 53% of operating portfolio is comprised of wholly owned properties, with another 7% owned through joint-venture partnerships. The remaining 40% are facilities the company manages on behalf of others, the release stated.
“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-plus employees have put into growing our company. 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.” said by CEO Joe Margolis.
Extra Space Storage, headquartered in Salt Lake City, owns, or operates more than 2,000 self-storage properties nationwide and in Puerto Rico. The company’s properties comprise approximately 1.4 million units and 156 million square feet of rentable space. Founded in 1977, the REIT went public in 2004.