Public Storage, the orange-roofed S&P 500 self-storage giant, is packing up its corporate headquarters in Glendale, California, and sending the C-suite to Frisco in North Texas. The move is wrapped into a broad strategic reset the company calls PS4.0 and a leadership handoff: longtime CEO Joe Russell will retire at the end of March, with H. Tom Boyle slated to take over.
In a press release via Business Wire, Public Storage described PS4.0 as a “generational leadership transition” aimed at boosting returns and upgrading its operating platform. The board also signed off on changing the company’s principal office, and in a Form 8-K filed with the SEC, Public Storage listed 2811 Internet Boulevard in Frisco as the new corporate address. StockTitan details those points.
Frisco site and build-out
The Frisco address is not just a fresh line on company letterhead. Texas permitting records show a project labeled “Public Storage HQ” at 2811 Internet Boulevard, Frisco, TX 75034, describing an interior renovation for the building. That state filing signals the company is gearing up actual office space in the area rather than simply routing mail through a generic business-park spot. The records are on file with the Texas Department of Licensing and Regulation.
Size of the company and the PS4.0 playbook
Public Storage remains the heavyweight in U.S. self-storage, reporting ownership and operation of roughly 3,533 self-storage facilities across 40 states. The company has posted strong operating margins in recent periods and generated roughly $4.7–$4.8 billion in revenue last year, according to figures it and financial data services released alongside fourth-quarter results and the PS4.0 rollout.
PS4.0 is pitched as more than just a change in nameplates on the executive floor. The leadership plan is explicitly tied to an operating overhaul, including pricing and marketing upgrades and more aggressive capital deployment aimed at seizing acquisition and development opportunities in the sector.
Why North Texas
Executives say the relocation will plug Public Storage into a deeper talent pool and the broader innovation ecosystem in North Texas while still keeping a long-term presence in Glendale. Local journalists and analysts point out that the Dallas-Fort Worth region has been on a run of corporate headquarters arrivals in recent years, which helps cast Frisco as a logical landing spot for a growth-focused REIT. Dallas News has tracked those regional moves.
Leadership timeline and governance changes
Public Storage says Joe Russell will retire as president and CEO on March 31, 2026, and H. Tom Boyle will step in as CEO on April 1. The company also announced several other executive promotions and an incoming president/CFO appointment as part of the PS4.0 transition package…