A California storage company is leaving for Texas after more than half a century in operation, joining a growing list of major businesses fleeing the Golden State.
Public Storage, founded in 1972 in El Cajon near San Diego, is moving its corporate headquarters from Glendale to Frisco in suburban Dallas, Texas.
Public Storage’s corporate offices in Glendale, Calif. Google st ViewAmerica’s biggest self-storage brand joins a host of companies — including SpaceX, Tesla, Chevron, Neutrogena and Realtor.com — to abandon California for flatter pastures.
Public Storage attributed its move to the “depth of talent and innovation” in Texas, the Los Angeles Times reported. The company will maintain “a long-term presence” in Glendale.
Company CEO H. Thomas Boyle suggested the talent pool in the Lone Star State is better, as Public Storage has been able to fill more corporate positions at its Texas location.
“It’s about finding the right talent across the country and building the team going forward, and we look forward to strong leadership in both offices,” Boyle said.
Public Storage CEO Joe Russell will step down at the end of March. Current CFO Tom Boyle will become the fourth CEO in Public Storage’s 53-year history on April 1. Public Storage / LinkedinA new senate bill, effective for agreements beginning at the start of 2026, regulates California’s self-storage industry by requiring disclosures of rent hikes in rental agreements. It was initially proposed to place price caps on the state’s self-storage industry.
A group backed by Public Storage, The California Self Storage Assn., had lobbied against the bill.
“We believe the advantages of what our industry offers in the way of introductory rates, no background or financial checks, month-to-month rentals, no deposits, etc., benefits the consumer and there is no need for governmental intervention,” the association said last year.
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A total of 200 companies have moved to Texas since 2020, according to data from Abbot’s office. The number of those coming from California made up more than half of the relocations in 2020 and 2021.
