Public Storage (NYSE:PSA) is a self-storage real estate investment trust (REIT) that develops, owns and operates storage facilities across North America and Europe. The company offers a broad range of storage unit sizes, climate-controlled spaces and specialty vehicle storage for cars, boats and recreational vehicles. In addition to traditional storage rentals, it provides packing and moving supplies, remote office suites and on-site management services, catering to residential and business customers seeking flexible storage solutions.
Founded in 1972 by entrepreneurs Bernie Marcus and Arthur Blank, Public Storage began with a handful of facilities in Southern California and expanded rapidly through acquisitions and ground-up development. Over the decades, the company has grown into the industry’s largest owner and operator of self-storage properties, with thousands of locations in 39 U.S. states and multiple European countries, including Spain, France and the Netherlands. Its growth strategy has combined strategic market entry with targeted acquisitions of complementary portfolios and value-add redevelopment projects.
Public Storage’s properties are designed to meet diverse customer requirements, featuring drive-up access, electronic gate entry, video surveillance and enhanced security protocols. Many sites include covered or enclosed loading bays, tenant insurance programs and tenant portals for online reservations and bill payment. The company maintains a centralized marketing and customer service platform that supports both walk-in clientele and digital booking channels, ensuring a consistent experience across its network.
Leadership at Public Storage brings deep expertise in commercial real estate and REIT operations. Joseph Russell serves as chairman and chief executive officer, overseeing corporate strategy and portfolio management. He is supported by a senior team that includes Ronald J. Havner Jr. as chief financial officer and executives responsible for acquisitions, development and customer operations. Together, they guide the company’s efforts to optimize facility performance, pursue new market opportunities and deliver long-term value for shareholders.
