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Joseph Margolis

Chief Executive Officer & Director, Extra Space Storage

Search every verified Joseph Margolis interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Joseph Margolis, Chief Executive Officer and Director of Extra Space Storage, has recently participated in the company's earnings calls and a podcast episode discussing his retirement and leadership transition. On the podcast, Margolis and incoming CEO Noah Springer reflected on their 12-year working relationship, which included navigating the COVID-19 pandemic, launching a bridge loan program, and completing the Life Storage acquisition that expanded the company from roughly 1,000 to over 4,400 properties. Margolis also noted the company's growth to a $32 billion valuation and emphasized the importance of same-store net operating income as a key lever for increasing company value. During the Q2 2026 earnings call, Margolis discussed the company's performance, noting that despite new customer price sensitivity and headwinds from non-controllable expenses like real estate taxes, Extra Space maintained industry-leading occupancy and generated modest same-store revenue growth. He also addressed a legal settlement of $1.7 million in New York City, stating the decision to settle was made to avoid lengthy litigation and remove uncertainty for shareholders. On the Q4 2024 earnings call, Margolis commented on the potential impact of a job-loss-driven recession on the storage industry, acknowledging that while storage has demand generators across economic cycles, job growth remains a key correlative factor for success.

Recent appearances

Notable quotes

“We're a $32 billion company now. And with the number of properties we have, the biggest lever we can use is the store. And same store NOI is the best thing we can push on to really increase the value of our company.”

“We got through COVID together, right? Joe had the helm during COVID. He started the bridge loan program as it came through. We did the Life Storage deal and the transition of that. There's a lot of stuff. We went from 1,000 properties to 4,400 over 4,400 stores.”

“We didn't predict a war. You know, four, five, six dollar gas prices depending where you are in the country, inflation, uh, low consumer competence, and hopefully for a lot of reasons, all that ends soon, but that is a risk to our future performance.”

“Our job is simple and it's to make money for our shareholders. It's not to be big. It's not to do exciting deals. It's not to be, you know, uh do activities that don't create long-term value. So we want to grow this company. Scale is important and an advantage in the self- storage industry, but we just don't want to be the high bidder and go out and buy things because then we're going to destroy our shareholders valu”

“We led the industry in revenue growth. We had very solid expense growth. We beat our expectations and Wall Street consensus on every metric. So, it was really a home run of a quarter. It was very, very good.”

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