Extra Space Storage Inc (EXR)

Overview

Extra Space Storage Inc. is a prominent real estate investment trust (REIT) based in Salt Lake City, Utah, which specializes in the management and operation of self-storage facilities. As an integral part of the S&P 500 index, the company has solidified its standing as a leading figure in the self-storage industry. By the end of December 2023, Extra Space Storage managed a significant portfolio comprising 3,714 self-storage stores located across 42 states and Washington, D.C. This vast network of storage solutions covers about 2.6 million units and spans approximately 283.0 million square feet of rentable space, showcasing the company's extensive reach and capacity. Operating under the brands Extra Space, Life Storage, and Storage Express, the company delivers on its promise of providing secure and conveniently located storage options to a diverse clientele ranging from individuals needing personal storage to businesses requiring space for inventory or equipment.

Products and Services

• Self-Storage Units:

  At the core of Extra Space Storage's offerings are its wide-ranging self-storage units. These units are designed to cater to a variety of storage needs, whether customers are looking to declutter their homes, store seasonal items, or hold onto valuables during transitional periods. The company places a high emphasis on security and convenience, ensuring that customers have peace of mind when storing their belongings.

• Boat Storage:

  Recognizing the specialized needs of boat owners, Extra Space Storage provides dedicated boat storage solutions. These are ideal for customers seeking a secure spot to store their boats during the off-season or when not in use, protecting them from the elements and freeing up space at home.

• RV Storage:

  The company also offers storage options for recreational vehicles (RVs), accommodating the unique size and storage requirements of these vehicles. RV owners can benefit from Extra Space Storage's secure facilities, ensuring their RVs are safely housed when not exploring the open road.

• Business Storage:

  Extra Space Storage extends its services to the business community with its business storage solutions. These services are tailored to meet the needs of businesses of all sizes, offering a cost-effective way to manage inventory, documents, or equipment. The flexibility and security of these storage options make them an attractive choice for businesses looking to optimize their operational space.