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Joseph D. Russell Jr.

Joseph D. Russell Jr.

Outgoing President and Chief Executive Officer, Public Storage

Appears in 1 story

Stories

Self-storage giants consolidate as post-pandemic market resets

Money Moves

Retiring March 31, 2026; consulting through March 2027

Public Storage agreed on March 16, 2026, to buy National Storage Affiliates Trust for $10.5 billion in stock, creating a combined enterprise of roughly $77 billion. The combined company will operate nearly 4,600 locations spanning 327 million square feet across 37 states and Puerto Ricoβ€”the largest self-storage deal since Extra Space absorbed Life Storage for $12.7 billion in 2023.

Updated May 30