Life Storage’s Post

It's official. We are now part of the Extra Space Storage brand. This deal makes Extra Space Storage the LARGEST #selfstorage operator in the nation.   This historic deal adds 1,200 new properties to Extra Space, bringing the new combined company store count to 3,500 locations across 43 states. The combined company will be the 8th largest REIT on the MSCI U.S. REIT Index with an enterprise value of approximately $46 billion.   "We couldn't have done it without the hard work of our dedicated team. It's amazing what the Extra Space team combined with the new team members from Life Storage have already been able to accomplish. I am excited to see all that we can achieve moving forward," said Noah Springer, Extra Space Chief Strategy Officer. We plan to continue to operate storage facilities under the Life Storage brand, adding Life Storage to the Extra Space Storage portfolio of brands that include Storage Express and Bargold.   Learn more about the deal here: https://lnkd.in/gEfeM2PT #TeamExtraSpace #LifeStorage #investorrelationshis #LSI #EXR

This year marks the 25-year work anniversary of George Klages, a Store Manager in Pensacola, Florida who joined Extra Space Storage as a Life Storage employee after our merger last summer. George's hard work and dedication have left a lasting impact on each of the four properties he worked at, enhancing the customer experience and contributing to the company's success. With 25 years under his belt, George advises team members to "be ready for change—I have lived through three company name changes. When I started with Uncle Bob's, the processes were not what they are today. Just be ready for change and embrace it." Learn more about George and his journey in self-storage: https://lnkd.in/guTNNaDs Cheers to 25 years of remarkable service and many more milestones to come! #TeamExtraSpace #LifeStorage #selfstorage

What has 919 storage units, 173,939 net rentable square feet, and serves Florida's east central coast community? This beautiful Life Storage facility! 🙌 This state-of-the-art site is operated in partnership with Flagship Companies Group, LLC (FCG), a diverse real estate and investment company specializing in land entitlement, development, and construction of storage, retail, and residential projects. "The Flagship Team is proud to deliver this best-in-class self-storage facility as part of our long-standing partnership with Extra Space Storage. We strive every day to exceed industry standards and believe that it takes a strong team collaborating together to produce these exceptional results.” - Ted Bolin, CEO of Flagship. Read more about the development of this property: https://lnkd.in/gMegtQ36 #LifeStorage #TeamExtraSpace #selfstorage #ManagementPlus

In partnership with Garret Development Corporation, a new Life Storage facility just opened up in Phoenix, Arizona! With 1,148 units and 116,588 net rentable square feet, this multi-story property offers both climate-controlled and non-climate-controlled units. In addition to traditional storage units, the facility offers a wide range of vehicle storage options, including covered and uncovered spaces for cars, boats, and RVs. Thank you to everyone involved in the opening and operation of this new facility including Sherry Charpentier, Bobby Wilcox, Mike Ball, Shay Carpenter, and our friends at Garret Development! Read more about this property on the blog: https://lnkd.in/g8wMSFa8 #LifeStorage #TeamExtraSpace #ManagementPlus #selfstorage

Partner Conference 2024! 🎉 It was so good meeting with our many partners and connecting with them face-to-face in Phoenix, Arizona. Those few days are packed full of informative presentations, insightful discussions, and networking activities. Thank you to all who attended and organized the event! We appreciate you. For more Partner Conference photos, click over to the Extra Space Storage LinkedIn account. #selfstorage #realestate #TeamExtraSpace #LifeStorage

Together with Extra Space Storage, we recently released our 2023 Annual Report and details about the strategic merger. Here are some of the highlights: 🔹 SCALE Uniting data and analytics allows the company to find more ways to drive same-store net operating income growth while providing great customer service. The greater scale and density within markets should also provide cost efficiencies and reduce long-term property and corporate expenses. 🔹 DIVERSIFICATION With more than 3,700+ stores serving over 2 million customers, no singular property represents a material portion of the company’s asset value, and no single MSA contributes more than 10% of revenue. 🔹 SYNERGIES The merger is expected to generate at least $100 million in annual run-rate operating synergies. Extra Space has a track record of integrating stores onto its platform and improving store performance, generating outsized returns to shareholders. Read more about the impact and benefits of the 2023 merger: https://lnkd.in/gbsY6RQK #LifeStorage #TeamExtraSpace #selfstorage

Today, we honor Dr. Martin Luther King Jr.'s legacy and vision for community unity, service, and transformation. MLK Day is a National Day of Service encouraging all to volunteer and improve their communities. At Life Storage, giving back is ingrained in our team's values. We understand the profound impact of service, and we stand united in our commitment to making a positive difference in the communities we serve. #LifeStorage #MLKday