Public Storage Relocates Headquarters From California to Texas

Self-storage company cites talent, innovation, and long-term shareholder value as reasons for move to Frisco, Texas

Published on Feb. 26, 2026

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Public Storage, a real estate investment trust specializing in self-storage facilities, announced it will move its headquarters from Glendale, California, to Frisco, Texas. The relocation comes amid a CEO transition and a new strategic overhaul branded as 'PS4.0.' The company cited the depth of talent and innovation in the North Dallas market as factors in the decision, while maintaining a long-term presence in California.

Why it matters

Public Storage's departure is the latest in a growing list of major businesses leaving California, citing high taxes, burdensome regulations, high cost of living and doing business, and other quality of life factors. This exodus has raised concerns about the state's business climate, even as the Democratic governor has pushed back against claims of a significant business exodus.

The details

Public Storage, founded in 1972 in San Diego County, operates more than 3,000 self-storage facilities across 43 states. In a February statement, the company announced it will relocate its corporate headquarters from Glendale, California, to Frisco, Texas. The move is part of a new strategic plan called 'PS4.0' and a CEO transition, with Joe Russell named as the successor to Tom Boyle, effective April 1.

  • Public Storage was founded in San Diego County in 1972.
  • In February 2026, the company announced it will relocate its headquarters from Glendale, California, to Frisco, Texas.
  • The CEO transition with Joe Russell succeeding Tom Boyle is effective April 1, 2026.

The players

Public Storage

A real estate investment trust specializing in self-storage facilities, founded in 1972 in San Diego County and operating more than 3,000 facilities across 43 states.

Joe Russell

The successor CEO of Public Storage, effective April 1, 2026.

Tom Boyle

The outgoing CEO of Public Storage.

Gavin Newsom

The Democratic governor of California who has pushed back against claims of a significant business exodus from the state.

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What’s next

The CEO transition with Joe Russell succeeding Tom Boyle is effective April 1, 2026.

The takeaway

Public Storage's decision to relocate its headquarters from California to Texas is the latest in a growing trend of major businesses leaving the state, citing concerns over high taxes, burdensome regulations, and the cost of living and doing business. This exodus has raised questions about California's business climate, even as the state's Democratic governor has pushed back against claims of a significant business departure.