Public Storage is moving its headquarters to Texas after more than 50 years in California.
The company shared its plans to move its corporate headquarters from Glendale to Frisco, Texas, a suburb of Dallas, ahead of an earnings call earlier this month.
The real estate investment trust, the largest self-storage brand in the U.S., has been based in Southern California since its founding in 1972 in El Cajon.
The company operates more than 3,500 self-storage facilities across 40 U.S. states and has more than 5,000 employees.
The move, part of a wider overhaul of the company, will help it benefit from the “depth of talent and innovation in that market,” according to a company statement.
Company leadership framed the move as a logistical decision rather than a full-on California exodus.
Incoming Chief Executive H. Thomas Boyle, currently the company’s chief financial and investment officer, said during the company’s fourth-quarter earnings call that the company has long operated in both Glendale and Dallas.
Corporate job openings were often posted across both offices, but most new roles over the past several years have been filled in the Texas location, Boyle said.
“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.
The news comes shortly after Senate Bill 709 took effect at the start of 2026.
The bill was designed to place price caps on California’s self-storage industry but was scaled back to a transparency law requiring disclosures of rent hikes in rental agreements. The California Self Storage Association, of which Public Storage is a primary funder, heavily lobbied against the bill’s passage.
Public Storage hasn’t been the only major company to move from California to the Lone Star State recently.
California has been losing more companies than it’s been gaining since 2014. However, experts and economists have previously told The Times the corporate departures represent adjustments to California’s $4.1-trillion economy, rather than signs of systemic decline.
Last year, the hair care company John Paul Mitchell Systems moved from Southern California to Wilmer, Texas and the green energy company GAF moved from San Jose to Georgetown, Texas.
In 2024, Chevron announced plans to move its headquarters from the Bay Area to Houston after several years of butting heads with Sacramento over climate and energy policies.
That year, Elon Musk said he would move SpaceX and X headquarters from Hawthorne to Starbase, Texas, due to a new state law that prohibits mandating that teachers notify families about student gender identity changes.
In 2021, Tesla announced it was moving headquarters from the Bay Area to Austin, Texas.
In 2019, financial services company Charles Schwab relocated from San Francisco, where it was founded, to Westlake, Texas.
Some billionaires — including Oracle founder Larry Ellison and Palantir founder Peter Thiel — have begun distancing themselves from the state as a labor-backed coalition gathers signatures in the hopes of putting a one-time 5% tax on California billionaires’ total wealth on the November ballot, The Times has reported.
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