Extra Space Storage

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Extra Space Storage Inc.
Public NYSEEXR
Industry Real Estate Investment Trust self storage
Founded 1977
Headquarters Cottonwood Heights, Utah,[1] USA
Number of locations
1,071
Area served
United States
Key people
Spencer Kirk, CEO
Kenneth Woolley, Founder and Chairman
Products Climate controlled and non-climate controlled storage units
Revenue $189.1 Million
$76 Million
$54 Million
Number of employees
2,643
Website http://www.extraspace.com
Extra Space Storage facility in Charleston, South Carolina

Extra Space Storage (NYSEEXR) is a US provider of self-storage units, with over 1,071 facilities across 35 states plus Washington, D.C. and Puerto Rico.[2] Headquartered in Cottonwood Heights, Utah,[1] Extra Space Storage is the second largest owner and/or operator of self-storage properties in the United States,[3] as well as the largest self-storage management company.

Extra Space Storage has been a publicly traded real estate investment trust (REIT) since 2004, and is traded on the New York Stock Exchange with the ticker symbol EXR.[4] The company was founded in 1977 by Kenneth Woolley, who remains the chairman. Since 1998, Spencer Kirk has served as the company's CEO.

History[edit]

Extra Space Storage was founded in 1977 by Kenneth Woolley. Between 1977 and 1994, Woolley opened 28 properties. In 1998, eventual CEO Spencer Kirk joined Woolley as a 50-50 partner.[2] Kirk was previously the co-founder of Megahertz, a laptop modem company that was purchased by USRobotics in 1994, and later by 3Com.[5]

In August, 2004, Extra Space held its initial public offering on the New York Stock Exchange using the symbol "EXR", opening at $12.50 per share.[4]

In 2005, as part of a joint venture with Prudential Real Estate, Extra Space acquired Storage USA for $2.3 Billion,[6] adding 458 additional properties.[7]

Facilities[edit]

As of August, 2014, Extra Space Storage owns and operates 1,071 facilities in the US.[2] The company's properties comprise approximately 715,000 units, and over 79 million square feet of rentable storage space.[8] Various types of storage units are offered by the company, including RV, boat, and automobile storage. The company also offers climate-controlled units, indoor and outdoor units, and locker units.

See also[edit]

References[edit]

  1. ^ a b "Extra Space Storage". ksl.com. Retrieved 2015-03-20. Extra Space Storage 2795 E. Cottonwood Pkwy, Ste. 400 Cottonwood Heights, UT 84121. 
  2. ^ a b c Yu, Hui-yong (2014-08-06). "Self-Storage Magnates Cash In on the Surge in Real Estate". Bloomberg Business. 
  3. ^ "Top-Operators List : Top Operators Directory". insideselfstorage.com. 2014-09-02. Retrieved September 7, 2014. 
  4. ^ a b "Extra Space Storage IPO". Nasdaq. 
  5. ^ Lewis, Di and Stewart, Heather (2012-03-01). "CEO of the Year". Utah Business. 
  6. ^ Foxwell, Elaine (2006-06-01). "Extra Space Storage Expands, Educates". Inside Self Storage. 
  7. ^ "Self-Storage Magnates Cash in on Real Estate Surge". Washington Post. 2014-08-23. 
  8. ^ Cariaga, Vance (2014-10-21). "Extra Space Storage Uses Tech Savvy to Lock Up Growth". Investors.com. 

External links[edit]