Extra Space Storage Celebrates 4,000 Stores Milestone

Rhea-AI Summary

Extra Space Storage (NYSE:EXR) has reached a significant milestone of operating over 4,000 stores nationwide, more than doubling its store count since 2021. The company now manages 4,011 stores across 42 states and Washington, D.C., covering 98 of the 100 largest U.S. metro markets.

The storage giant's portfolio comprises 2.8 million units spanning 308 million square feet of rentable space. In 2024, they added 297 stores to their platform. The property ownership structure includes:

• 49% wholly owned properties
• 12% joint venture partnerships
• 39% managed through ManagementPlus platform

Currently serving 2.4 million customers with over 8,000 team members, Extra Space Storage has earned recognition as a top workplace, recently ranking in the top 25 of Forbes 'America's Best Companies' 2025 list.

SALT LAKE CITY, March 5, 2025 /PRNewswire/ -- Extra Space Storage, Inc., (NYSE:EXR) the largest operator of self storage properties in the U.S., announced a significant milestone for the company as they celebrate reaching over 4,000 stores nationwide. Extra Space has more than doubled its store count since 2021. 

"This achievement is a testament to the company's steady growth and resiliency of the self storage sector," said Joe Margolis, CEO. "Reaching 4,000 stores isn't just about the number – it's about the people who made this growth happen. Our team's focus on sustainable, strategic, and accretive growth ensures that we deliver the highest quality and value for all our stakeholders. Our success as a company belongs to 8,000+ team members and 2.4 million customers who trust us with their storage needs."

Extra Space Storage now operates 4,011 stores across 42 states and Washington, D.C. and has properties in 98 of the 100 largest metro markets in the U.S. In total, Extra Space stores provide 2.8 million units, creating 308 million square feet of rentable space. In 2024, the company added 297 stores to its operating platform. Extra Space's property growth comes from multiple sources. Of the 4,011 stores, 49 percent are wholly owned properties, 12 percent are owned in joint venture partnerships, and 39 percent are managed on behalf of independent owners by Extra Space Storage's ManagementPlus platform.

"Since our founding in 1977, Extra Space has remained a values-driven company. This milestone reflects years of hard work and commitment from the team to our company values of integrity, teamwork, passion, innovation, and excellence," continued Margolis. "Looking to the future, I am confident that we've got the best team in the industry to achieve long term success. We're not just moving forward; we are building our legacy for years to come."

Extra Space Storage has been awarded multiple times as a "Best Place to Work" by Glassdoor, U.S. News, Newsweek, Time Magazine, and others. Most recently, Extra Space was named by in the top 25 companies in Forbes "America's Best Companies" 2025 list. To learn more about careers at Extra Space, visit https://careers.extraspace.com/.

About Extra Space Storage Inc.:

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 December 31, 2024, the Company owned and/or operated 4,011 self storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 2.8 million units and approximately 308.4 million square feet of rentable space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self storage properties in the United States.

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SOURCE Extra Space Storage, Inc.

FAQ

How many stores did Extra Space Storage (EXR) add in 2024?

Extra Space Storage added 297 stores to its operating platform in 2024.

What is the current total square footage of Extra Space Storage (EXR) properties?

Extra Space Storage operates 308 million square feet of rentable space across their properties.

How many markets does Extra Space Storage (EXR) currently serve?

Extra Space Storage operates in 98 of the 100 largest metro markets in the U.S., across 42 states and Washington, D.C.

What is the ownership structure of Extra Space Storage's (EXR) 4,011 properties?

49% are wholly owned, 12% are owned in joint ventures, and 39% are managed through their ManagementPlus platform.

How many customers does Extra Space Storage (EXR) currently serve?

Extra Space Storage serves 2.4 million customers across their locations.