Extra Space Storage Inc. Acquires Storage Express And Appoints Jefferson Shreve To Its Board Of Directors
Extra Space Storage Inc. Acquires Storage Express And Appoints Jefferson Shreve To Its Board Of Directors
09/16/22, 10:50 AM
Location
salt lake citysalt lake cityIndustry
real estate
real estate
Extra Space Storage Inc. and its subsidiaries (collectively "Extra Space" or the "Company") ( NYSE: EXR) announced today that it has completed the acquisition of multiple entities doing business as Storage Express ("Storage Express"), which own 107 remote storage properties across Indiana, Ohio, Illinois and Kentucky. The acquisition includes all Storage Express assets, including trademarks, contracts, licenses, intellectual property and 14 future development sites. Total consideration for the acquisition was approximately $590.0 million. The Company also purchased E-Tracker, a storage software operating platform, which supports Storage Express locations, as well as Bargold Storage Systems, LLC, which was acquired by Extra Space in June 2022.
Company Info
Location
Salt Lake City, Utah, United States
Company info
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of June 30, 2022, the Company owned and/or operated 2,177 self-storage properties, which comprise approximately 1.6 million units and approximately 168.0 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.
For more information, please visit www.extraspace.com
SOURCE Extra Space Storage Inc.