Public Storage mving headquarters from California to Texas after 50+ years
Public Storage self storage facility. (Photo by John Greim/LightRocket via Getty Images)
GLENDALE, Calif. - Public Storage is abandoning its California roots for Texas, marking the end of an era for the S&P 500 giant founded in El Cajon in 1972.
What we know:
Public Storage, the world’s largest owner of self-storage facilities, will officially move its corporate hub to a newly constructed building in Frisco, the company announced earlier this month.
Incoming CEO Tom Boyle, who takes over April 1, attributed the shift to the "depth of talent and innovation" available in the Lone Star State.
While the company will maintain a "long-term presence" in Glendale, the primary corporate engine is shifting East.
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The move follows a contentious period in California politics where the California Self Storage Association, backed by the company, lobbied unsuccessfully against a new senate bill that mandates rent hike disclosures starting in 2026.
What they're saying:
Boyle emphasized the strategic nature of the move, stating, "It’s about finding the right talent across the country and building the team going forward."
He also noted that the company’s future would be "driven by digital and AI advancement."
What's next:
The company will begin transitioning its leadership team to the Frisco office through the spring, according
Investors will be watching to see how the "digital and AI advancements" Boyle mentioned will impact the company's workforce and industry-leading margins.
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Meanwhile, California lawmakers may face renewed pressure as the list of departing companies—including Tesla, Chevron, and now Public Storage—continues to grow.
The Source: This report is based on corporate announcements from Public Storage.