A Letter To Our Stakeholders
As I look back on 2025, I take a lot of pride in the Extra Space Storage team. We have long maintained that if we take care of our people, they will take care of our customers, our properties, and our communities. We can see how that philosophy played out with great success in 2025.
A sustainable company requires a prepared and motivated team ready to face the challenges of tomorrow. To that end, we have invested in learning and development of our team, building our leadership pipeline, and promoting from within. These internal investments are grounded in an effort to strengthen our culture and reinforce our organizational values. Our commitment to being an employer of choice was widely recognized in 2025. We were honored to be named one of the Most Trusted Companies in America and a Best Company to Work For and Invest In by Forbes. Additionally, Newsweek recognized us as one of America's Greatest Workplaces for Women and included us on their Excellence Index, while U.S. News & World Report highlighted Extra Space across multiple "Best Companies to Work For" categories.
Our teams translated this high engagement into progress on important sustainability projects throughout 2025. We expanded our renewable energy footprint by investing $30 million in solar installations, bringing our solar generation for the year to 68.6 GWh of clean energy. We continued to find ways to be more energy efficient, creating a 15% reduction in GhG emissions per square foot in our portfolio through efforts like lighting retrofits, HVAC retrofitting, and more.
Parallel to our efficiency gains, we maintained a focus on portfolio resiliency. By proactively investing in property retrofits and maintaining a highly diversified geographical footprint spanning over 4,000 properties, we have further insulated our operations from regional climate and market shocks. No single property contributes more than 0.3% of our revenue, and no single metropolitan statistical area (MSA) represents more than 10% of our income, ensuring our business model is strategically built to deliver consistent, long-term performance.
As we move into 2026, our core values of Integrity, Excellence, Innovation, Teamwork, and Passion remain our compass. We are continuing to invest in our people and our properties in a way that will deliver long-term value for the future.
- JOE MARGOLIS
- CEO, Extra Space Storage
