Public Storage

Public Storage is the largest self-storage operator in the United States, with a long history of steady growth and a reputation for disciplined expansion. The company was founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr. in California, beginning as a single facility and quickly establishing a model focused on accessible, convenient storage solutions. One of its most significant milestones came in 2006, when Public Storage acquired Shurgard Storage Centers, marking its entry into the European market and setting the stage for international growth.

As of June 2025, Public Storage owns and operates 3,432 self-storage facilities across 40 states, making it a dominant presence in both urban and suburban markets nationwide. The company’s footprint extends internationally through a substantial minority stake in Shurgard Self Storage, which operates hundreds of facilities across Western Europe, including the UK, France, Belgium, and Sweden. This international partnership supports Public Storage’s reach into key European markets while allowing it to focus its direct operations on the United States.

Over the past five years, Public Storage has accelerated its expansion strategy, acquiring more than 160 facilities between 2023 and 2025. A notable recent action was the acquisition of Simply Self Storage, which added significant scale and broadened the company’s market coverage. Public Storage continues to maintain a robust pipeline of acquisitions and new developments, targeting high-density areas where demand for self-storage remains strong.

The company operates as an independent, publicly traded REIT listed on the New York Stock Exchange. It does not franchise its brand, maintaining direct control over its facilities and operations. Public Storage is known for its standardized approach, operational efficiency, and ability to adapt to changing market conditions. Its executive-led real estate team manages acquisitions and development, with contact typically initiated through its corporate channels.

Public Storage’s ongoing growth, established brand, and focus on efficient operations have made it a reliable and influential player in the self-storage sector. Its presence in both established and emerging markets, combined with a disciplined approach to capital allocation, continues to shape the landscape for commercial real estate stakeholders seeking stable, scalable tenancy.