Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 33

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 33
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Developed in 202119.7019.92(1.1)%Developed in 202219.1017.3310.2%Developed in 202312.3010.2220.4%Developed in 202412.209.6726.2%Developed in 202512.70—0.0%Expansions completed before 202420.8220.153.3%Expansions completed in 2024 or 202517.6720.32(13.0)%Expansions in process26.3227.04(2.7)%$19.17$19.26(0.5)%Number of facilities:Developed in 202033—Developed in 202166—Developed in 202288—Developed in 20231111—Developed in 2024743Developed in 20255—5Expansions completed before 20244545—Expansions completed in 2024 or 20251275Expansions in process67(1)1039112Net rentable square feet (in thousands):Developed in 2020347347—Developed in 2021760760—Developed in 2022631631—Developed in 2023 (c)1,1531,09855Developed in 2024668389279Developed in 2025527—527Expansions completed before 20245,8345,75381Expansions completed in 2024 or 20251,9611,050911Expansions in process492487512,37310,5151,858

44

As of September 30, 2025Costs to develop (in thousands):Developed in 2020$42,063Developed in 2021128,435Developed in 2022100,089Developed in 2023 (c)217,572Developed in 2024129,669Developed in 2025118,191Expansions completed before 2024 (d)468,750Expansions completed in 2024 or 2025 (d)327,685$1,532,454

(a)Represents the percentage change with respect to annual contract rent per occupied square foot, and the absolute nominal change with respect to all other items. 

(b)Revenues and cost of operations do not include tenant reinsurance and merchandise sales generated at the facilities. See