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6d ago

Public Storage Moves Headquarters to Frisco, Texas From California

The company frames the move as a talent-focused step to support its PS4.0 push into digital, data, AI.

The Tesla "Gigafactory" covering 2,500 acres and more than 10 million square feet of manufacturing space located just outside downtown Austin, Texas, on September 29, 2022.
FILE: Public Storage Inc. offices are seen on March 7, 2006, in Glendale, Calif.
FILE: A woman unlocks a unit at Public Storage in September 2009.

Overview

  • Public Storage confirmed it is shifting its corporate base from Glendale to Frisco while keeping a long-term presence in Glendale.
  • Tom Boyle becomes CEO on April 1 as Joe Russell retires, with Welltower’s Shankh Mitra set to serve as non-executive chairman.
  • Executives said Dallas has become the firm’s largest corporate hub after years of filling most new corporate roles in Texas.
  • The company ties the relocation to its PS4.0 strategy, which leans on digital tools, data science and artificial intelligence to drive growth.
  • Coverage notes the move follows California’s SB 709 rent-hike disclosure law for self-storage and fits a broader California-to-Texas headquarters shift.