Extra Space Storage was recently recognized by Utah Business in its annual Fast 50 list, which celebrates the fastest-growing companies in the state for their achievements in revenue growth, entrepreneurship, and innovation. Each company was revealed during the magazine’s countdown event. We’re happy to announce that Extra Space Storage came in at #29 in the list.
Though Extra Space Storage has been featured on Utah Business’ Fast 50 list several times before, we’re especially proud to accept this year’s award because of our recent accomplishments.
In 2019, Extra Space Storage crossed the $1.2 billion mark in annual revenue and has seen positive growth in joint venture investments, resulting in $4.6 billion in acquisitions over the last five years. In addition, we recently added our 600th store to ManagementPlus, our third-party management platform. Extra Space Storage now operates and manages self storage properties in 40 states across the U.S.
“We have had significant, sustained growth over the last several years,” said Scott Stubbs, Chief Financial Officer at Extra Space Storage. “We continue to acquire new locations and add new locations to our management program at a really exceptional pace, bringing us to just over 1,700 locations nationwide. But what’s remarkable about that growth is that each new location added has been a well-vetted, successful addition, and that makes a lot of difference to our bottom line.”
Not only has Extra Space Storage reached several growth milestones in 2019, but our company has received incredible accolades this year as well, including a spot on Forbes’ America’s Best Midsize Employers annual list. Several members of our executive team have also been acknowledged for their leadership this year. CEO Joe Margolis was named among Glassdoor’s Top CEOs 2019; CLO Gwyn McNeal was recognized with a 2019 Corporate Counsel Award from Utah Business; and COO Samrat Sondhi was honored with Utah Business’ 2019 CXO of the Year.
We believe all of this year’s accomplishments come back to our diverse team and our company culture guided by our core values of Integrity, Excellence, Innovation, Teamwork, and Passion. After seeing what we’ve achieved together this year, we can’t wait to see what the future holds for Extra Space Storage!
All Fast 50 winners and their rankings will be featured in the September 2019 issue of Utah Business Magazine.