Joseph D. Margolis
Chief Executive Officer
2017 – Present
9 years (current)
Key Decisions & Impact
Taking over as CEO in 2017, Joseph D. Margolis utilized his extensive background in real estate investment banking to orchestrate a period of unprecedented external growth. He focused on aggressive capital deployment, culminating in the historic, industry-altering $15 billion acquisition and merger with rival Life Storage, Inc. in 2023. This transaction solidified Extra Space's position as one of the largest operators of self-storage facilities in the United States. Furthermore, he heavily expanded the company's profitable third-party management platform (ManagementPlus) and significantly increased strategic joint venture investments, diversifying the company's capital stack.
Legacy
Margolis's tenure is defined by his aggressive, sophisticated approach to corporate finance and large-scale M&A activity within the fragmented self-storage sector. His execution of the Life Storage merger altered the competitive landscape of the entire industry, generating economies of scale and significantly expanding the company's presence in high-growth Sun Belt markets. Under his leadership, the company has consistently delivered outsized returns to shareholders, cementing its reputation as a dominant, efficient capital allocator within the broader REIT asset class.