Public Storage is a California-based REIT and member of the S&P 500. This is the largest self-storage company and it acquires, develops, owns, and operates self-storage facilities. The company has a healthy development pipeline with several facilities and large expansion projects in development. Public Storage has more than 2,500 locations across the U.S. in 38 states and facilities in western Europe.
Extra Space Storage is the largest self-storage management company and the second-largest owner/operator of self-storage properties in the United States. The Salt Lake City company has facilities in 37 states; Washington, D.C.; and Puerto Rico. They also own and operate more than 1,400 stores. The company’s CEO recently said the acquisitions market for self-storage assets is very frothy and that 84% of the company’s acquisitions in 2018 were done through off-market transactions.
CubeSmart owns or manages more than 1,000 self-storage facilities throughout the United States. The Pennsylvania-based REIT recently acquired 21 stores in places ranging from South Carolina to Massachusetts to Florida. The CEO recently said that he views 2019 as a "peak year" for new deliveries and expects storage facility construction to slow some in 2020.
Life Storage, headquartered in Buffalo, New York, was formerly known as Uncle Bob’s. Since rebranding in 2016, the company has expanded geographically and added more buildings on the West Coast. The company currently operates more than 750 self-storage facilities in 28 states and Ontario, Canada.
National Storage Affiliates owns and operates 729 storage facilities in 35 states and Puerto Rico. The company is headquartered in Colorado and operates regional self-storage facilities in several high-growth markets. The company notes that its size and geographic diversity protect it from the risk associated with specific local or regional economies.