Extra Space Storage (NYSE: EXR) is a US provider of self-storage units, with over 1,071 facilities across 35 states plus Washington, D.C. and Puerto Rico. Headquartered in Cottonwood Heights, Utah, Extra Space Storage is the second largest owner and/or operator of self-storage properties in the United States, 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. 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
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. Kirk was previously the co-founder of Megahertz, a laptop modem company that was purchased by USRobotics in 1994, and later by 3Com.
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.
In 2005, as part of a joint venture with Prudential Real Estate, Extra Space acquired Storage USA for $2.3 Billion, adding 458 additional properties.
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Facilities
As of August, 2014, Extra Space Storage owns and operates 1,106 facilities in the US. The company's properties comprise approximately 740,000 units, and over 81 million square feet of rentable storage space. 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.
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