On January 9, 2024, Extra Space Storage celebrated its merger with Life Storage by ringing the closing bell on the New York Stock Exchange. This event, led by CEO Joe Margolis and joined by founder Ken Woolley and 13 other members of the Extra Space team, highlighted the successful union of two industry leaders.
On July 20, 2023, Extra Space officially combined with Life Storage, creating the largest storage operator in the United States. This merger, approved by the shareholders of both companies, resulted in a combined portfolio of over 3,500 locations, approximately 270 million square feet of rentable space, and a presence in 42 states.
“It was great to celebrate our teams’ success in closing a transformative merger that will create significant value for our shareholders, and to celebrate the progress we have made in integrating the two companies,” shared CEO Joe Margolis. “I wish there was room on the podium for the 7,300 teammates who worked hard and sacrificed to make this a reality. I want to congratulate and thank the whole team for their above-and-beyond efforts.”