Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 32

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 32
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Developed in 20222,020 1,820 200 5,695 4,498 1,197 Developed in 20231,762 548 1,214 4,088 381 3,707 Developed in 2024675 16 659 1,404 (42)1,446 Developed in 202558 — 58 3 — 3 Expansions completed before 202418,878 17,733 1,145 55,269 50,065 5,204 Expansions completed in 2024 or 20252,932 2,909 23 7,541 6,887 654 Expansions in process2,226 2,089 137 6,698 7,057 (359)     Net operating income 32,016 28,574 3,442 90,858 78,992 11,866 Depreciation and amortization expense(17,400)(14,022)(3,378)(51,319)(38,882)(12,437)     Net income$14,616 $14,552 $64 $39,539 $40,110 $(571)

43

DEVELOPED AND EXPANDED FACILITIES (Continued)As of September 30,20252024Change (a)($ amounts in thousands, except for per square foot amounts)Square foot occupancy:Developed in 202088.0%90.7%(2.7)%Developed in 202183.8%78.4%5.4%Developed in 202288.0%86.6%1.4%Developed in 202381.6%68.7%12.9%Developed in 202470.5%45.7%24.8%Developed in 202531.5%—%31.5%Expansions completed before 202483.7%83.5%0.2%Expansions completed in 2024 or 202557.6%59.8%(2.2)%Expansions in process86.1%90.6%(4.5)%77.5%78.6%(1.1)%Annual contract rent per occupied square foot:Developed in 2020$22.03$22.040.0%