Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 79

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 2
Chunk 79
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ITEM 2.    Properties

At December 31, 2024, we had controlling ownership interests in 3,073 self-storage facilities located in 40 states within the U.S.:

At December 31, 2024Number of Storage FacilitiesNet Rentable Square Feet(in thousands)Texas464 39,412 California446 32,025 Florida365 25,475 Illinois137 8,930 Georgia128 8,621 North Carolina111 8,195 Maryland106 7,990 Virginia121 7,969 Washington107 7,629 Colorado88 6,518 Minnesota68 5,425 New York73 5,232 South Carolina83 5,176 New Jersey67 4,651 Ohio66 4,511 Michigan61 4,387 Arizona60 4,383 Indiana54 3,585 Oklahoma48 3,499 Tennessee55 3,443 Missouri44 2,919 Pennsylvania37 2,685 Oregon45 2,618 Nevada34 2,419 Massachusetts29 2,052 Kansas24 1,538 Other states (14 states)152 9,993 Total (a)3,073 221,280 

(a)See Schedule III: Real Estate and Accumulated Depreciation in our consolidated financial statements included in this Annual Report on Form 10-K, for a summary of land, building, accumulated depreciation, square footage, and number of properties by market.

At December 31, 2024, two of our facilities with a net book value of $11.2 million were encumbered by an aggregate of $1.7 million in mortgage notes payable.

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The configuration of self-storage facilities has evolved over time. The oldest facilities are comprised generally of multiple single-story buildings, and have on average approximately 500 primarily “drive up” spaces per facility, and a small rental office. The most prevalent recently constructed facilities have higher density footprints with large, multi-story buildings with climate control and typically 1,000 or more self-storage spaces, a more imposing and visible retail presence, and a prominent and large rental office designed to appeal to customers as an attractive and retail-focused “store.” Our self-storage portfolio includes facilities with characteristics of the oldest facilities, characteristics of the most recently constructed facilities, and those with characteristics of