Company: PSA-PH
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393311-25-000120
Chunk: 32

Company: Public Storage
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 2
Chunk 32
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3602,326(167)2,493Developed in 2024497(47)544729(58)787Developed in 202512—12(55)—(55)Expansions completed before 202418,56816,8031,76536,39132,3324,059Expansions completed in 2024 or 20252,5792,1294504,6093,978631Expansions in process2,2532,516(263)4,4724,968(496)     Net operating income 30,60726,2984,30958,84250,4188,424Depreciation and amortization expense(18,169)(12,692)(5,477)(33,919)(24,860)(9,059)     Net income$12,438$13,606 $(1,168)$24,923$25,558 $(635)

43

NEWLY DEVELOPED AND EXPANDED FACILITIES (Continued) As of June 30, 20252024Change (a) ($ amounts in thousands, except for per square foot amounts)Square foot occupancy:     Developed in 202089.1%89.0%0.1%Developed in 202184.5%86.3%(1.8)%Developed in 202290.2%87.1%3.1%Developed in 202385.5%57.7%27.8%Developed in 202463.0%21.4%41.6%Developed in 202521.1%—%—%Expansions completed before 202484.6%82.0%2.6%Expansions completed in 2024 or 202562.0%79.3%(17.3)%Expansions in process78.2%92.6%(14.4)%78.6%78.9%(0.3)%Annual contract rent per occupied square foot:Developed in 2020$22.06$22.82(3.3)%Developed in 202119.2320.00(3.9)%Developed in 202218.4616.949.0%Developed in 202311.6010.0315.7%Developed in 202411.6011.451.3%Developed in 202510.87——