The Extra Space Storage Genesis

Posted on Jan 18 2012 - 9:15am by James Overturf

The global behemoth that is Extra Space Storage auto-magically appeared in 1977.  However, the story of how Extra Space Storage got started back in the late 60’s.  The credit is all due to the vision and entrepreneurial spirit of former CEO and current board member Ken Woolley.  As a doctoral student at Stanford University (yeah, he’s sorta smart), Ken was hired as a consultant to do analysis on real-estate and came across a new concept called mini (self) storage.  Intrigued by the concept, Ken convinced several investors to build the first Extra Space facility in Billings, Montana.  Why Billings, Montana?  Well, Ken did what every Stanford doctorate in business strategy usually does—he moved his family to Cody, Wyoming to be the CEO of a farm/ranch supply company.  Say what?  The property is still in Billings, Montana and is called The Storage Place (complete with squirrel mascot).