Extra Space Storage Announces Noah Springer as the Next Chief Executive Officer

Margolis will remain CEO through December 31, 2026, working closely with Springer and the Board to ensure a smooth leadership transition.

Springer joined Extra Space in 2006 and became President on January 1, 2026. Before that, he served as Chief Strategy and Partnership Officer, where he helped grow the company's Management Plus third-party management platform to nearly 2,000 locations.

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He has also overseen asset management, construction and development, human resources, and operations. Springer is known for supporting Extra Space's employees, customers, and partnership-focused culture.

Margolis began working with Extra Space in 1998 through a joint venture and joined its Board in 2005. He became Chief Investment Officer in 2015 and CEO in 2017.

During his time as CEO, Margolis helped grow the company from about 100 million to more than 340 million rentable square feet. Its market value increased from about $9 billion to $30 billion, while annual revenue grew from $1.1 billion to $3.5 billion. He also oversaw major deals, including the acquisition of Storage Express and the merger with Life Storage.

"It has been a privilege to lead the Extra Space Storage team over the past decade," said Joe Margolis, CEO of Extra Space Storage. "I am deeply grateful for the opportunity to work alongside such an extraordinary team, who have made Extra Space the best company in the industry. Noah Springer is ideally prepared and fully ready to lead the Company into the next chapter of its 50-year story of growth and success.

"I'm honored and energized by the opportunity to help carry Extra Space's mission forward: serving customers during life's many transitions, creating meaningful careers for our team members and building lasting value for our shareholders," said Noah Springer, President of Extra Space Storage.

About Extra Space Storage

Founded in 1977 and headquartered in Salt Lake City, Utah, Extra Space Storage is a self-managed REIT and a member of the S&P 500. It operates about 3 million storage units across 341 million square feet and offers storage for individuals and businesses, including boat and RV storage. It is the largest self storage operator in the U.S.

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