Extra Space Storage Reaches 800 Third-Party Managed Properties
Extra Space Storage Inc. (NYSE:EXR) announced reaching a milestone of 800 managed properties through its ManagementPlus platform, which constitutes about 40% of its facilities. This achievement coincides with the company being recognized as the Best Third-Party Management Company in the 2021 Inside Self Storage reader-choice poll. In 2021, Extra Space added over 100 stores to its platform and aims to manage a total of approximately 200 by year-end, serving over 500,000 customers across more than 60 million net rentable square feet.
- Reached 800 managed properties, affirming market leadership.
- Recognized as Best Third-Party Management Company in 2021.
- Added over 100 third-party stores in 2021 with plans for more.
- ManagementPlus platform expected to manage 200 additional stores by year-end.
- None.
SALT LAKE CITY, Sept. 15, 2021 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) announces that the Company's third-party management platform, ManagementPlus, has reached its 800th managed store. Managed properties make up approximately 40 percent of Extra Space Storage's facilities, and Extra Space is the largest self-storage third-party manager in the United States. This milestone comes at the same time as Inside Self Storage recognized the Company as the Best Third-Party Management Company in the 2021 "Best of Business" reader-choice poll.
"It is an honor to be recognized as the industry's best third-party manager," said Eric Bishop-Berry, Sr. Director of Third-Party Management. "With over 300 partner groups, Extra Space's business is built on meaningful relationships. This award and the continued growth of our third-party managed stores demonstrates that our partners trust us to manage their stores like our own, regardless of ownership."
"I am continuously impressed with the innovation of the ManagementPlus platform, the professionalism of the leadership team, and their staff's dedication to enhance our properties' performance," said Matt Janes, Self-Storage Director at Rosewood Property Company. "Since the start of Rosewood's partnership with Extra Space in 2011, I have been confident that I can rely on them to manage all day-to-day operations while increasing leasing and revenue for all our properties."
Extra Space's ManagementPlus has added over 100 third-party managed stores to its platform in 2021 and expects to add approximately 200 total stores before year-end. There are over 500,000 customers renting at third-party managed stores and over 60 million net rentable square feet of third-party managed properties in the Extra Space portfolio. In addition, as of June 30, 2021, the Company was managing 247 joint venture locations and 958 wholly-owned locations.
To learn more about ManagementPlus, visit extraspace.com/managementplus/.
About Extra Space Storage
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of July 19, 2021, Extra Space Storage operates over 2,000 self-storage stores comprising approximately 1.4 million units and approximately 156 million square feet of rentable space. Extra Space Storage offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. Extra Space Storage is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States. Learn more on extraspace.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/extra-space-storage-reaches-800-third-party-managed-properties-301378032.html
SOURCE Extra Space Storage Inc.
FAQ
How many properties does Extra Space Storage manage as of 2021?
What recognition did Extra Space Storage receive in 2021?
What percentage of Extra Space Storage's facilities are managed properties?
How many additional stores does Extra Space Storage plan to add by year-end 2021?
How many customers rent from Extra Space Storage's managed properties?
