Real Estate
Home›Real Estate›REITs›Extra Space Storage CEO nominee stresses scale and ope…
Extra Space Storage CEO nominee stresses scale and operational efficiency
In the second quarter, Extra Space reported same store revenue growth of 2.4%, which CEO designate Noah Springer linked to operational efficiency.
Noah Springer, president of Extra Space Storage and its next CEO, is set to take over at the start of 2027, according to Nareit’s REIT Report interview.
Springer said leadership continuity at the REIT is about focusing on what works while still pushing for innovation, drawing on his experience working with three different CEOs including current CEO Joe Margolis.
He emphasized that scale, data, and operational efficiency support Extra Space’s performance, adding that while demand for storage remains steady, the supply environment is improving.
Springer also cited that in the second quarter, same store revenue rose 2.4%, attributing the increase to operational efficiency, and he noted that vacate rates are historically low once customers are in the facilities.