Public Storage has announced its intention to acquire National Storage Affiliates in an all-stock deal valued at approximately $10.5 billion. The transaction, which is set to take place on March 16, 2026, will create a combined entity with 327 million square feet of storage across nearly 4,600 locations in the United States.
This acquisition marks a significant move in the self storage industry, as it combines the largest and the fourth-largest self-storage companies by market capitalization. The deal is expected to enhance Public Storage’s presence, particularly in growing markets such as the Sun Belt.
Investors holding shares of National Storage will receive 0.14 of a share of Public Storage for each share they own, reflecting the company’s commitment to creating value for its shareholders. Following the announcement, shares of National Storage jumped nearly 30 percent at the opening bell, indicating strong investor confidence in the merger.
In addition to this major acquisition, Janus International Group has recently launched a mobile app called Rapid Replace, aimed at streamlining the door-replacement process for self-storage facilities. The app is designed to reduce the time for quotes to just two business days, enhancing operational efficiency for self-storage operators.
Ramey Jackson, a representative from Janus International Group, expressed enthusiasm about the new app, stating, “We are excited to unveil Rapid Replace to the self-storage industry and believe this app will help simplify and streamline the door-replacement process for our customers.”
The estimated value of the joint venture portfolio resulting from the merger is approximately $3.3 billion, further solidifying the combined company’s position in the market.
Public Storage is also in the process of relocating its headquarters from Glendale, California, to Frisco, Texas, which aligns with its strategic goals to expand in key regions.
The deal, if approved, is poised to reshape the landscape of the self storage industry, with both companies expected to benefit from enhanced operational capabilities and market reach.
Details remain unconfirmed regarding the timeline for regulatory approvals and the finalization of the merger, but industry analysts are closely monitoring the situation as it develops.