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SALT LAKE CITY,
Oct. 12, 2012 /PRNewswire/ --
Extra Space Storage Inc. (NYSE:
EXR) today announced it has entered into an agreement with the Irvine Company, a leading real estate development company, to assume management of eight self-storage assets. Effective
September 28, 2012, the eight properties, located in
Southern California, have been managed by Extra Space Storage. All of these assets will be reflagged and rebranded as Extra Space Storage properties.
"We are excited to form a partnership with the Irvine Company while at the same time continuing to grow the Extra Space Storage brand," said
Spencer Kirk, Chief Executive Officer for Extra Space Storage. "An expanded footprint in these markets solidifies our ability to provide best-in-class efficiencies in online marketing, revenue management and property operations. Our company has been built on long-term strategic partnerships and we are excited to foster a mutually-beneficial relationship with a world-class organization like the Irvine Company."
Extra Space Storage® has been a leader in the storage industry for over 30 years. Since expanding to third party management,
Extra Space Storage has become the largest self-storage management company in the country.
The Irvine Company's eight properties are located in high-quality, Irvine communities. The portfolio consists of 732,000 square feet and rents in excess of
$15.00 per square foot. The individual properties are located at: