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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation
 Building and Improvements Initial Cost Adjustments and Costs to Land and Building Subsequent to Acquisition Gross carrying amount at December 31, 2024
Self - Storage Facilities by State:Store Count Land Initial Cost Building and ImprovementsAccumulated Depreciation
 Debt Land Total
AL38$5,686 $53,193 $384,033 $18,063 $53,191 $402,098 $455,289 $28,626 
AZ4922,102 147,273 567,989 18,431 147,272 586,421 733,693 59,998 
CA219202,634 914,399 2,286,177 287,455 914,618 2,573,413 3,488,031 501,397 
CO2725,798 49,985 192,497 22,640 50,703 214,419 265,122 39,143 
CT236,179 43,453 373,628 8,264 43,452 381,892 425,344 28,491 
FL256151,928 692,608 3,009,106 131,435 690,728 3,142,421 3,833,149 323,023 
GA12078,738 304,982 1,195,949 55,865 304,970 1,251,826 1,556,796 157,456 
HI14— 29,836 160,978 25,305 29,836 186,282 216,118 48,926 
ID2— 4,047 25,235 71 4,047 25,306 29,353 1,468 
IL10415,888 203,952 1,082,223 54,630 203,331 1,137,474 1,340,805 112,677 
IN92— 64,877 508,534 17,683 64,528 526,566 591,094 47,931 
KS1— 366 1,897 1,200 366 3,097 3,463 1,668 
KY1530,070 10,026 88,389 22,085 10,799 109,701 120,500 24,599 
LA10— 16,673 126,604 6,660 16,674 133,263 149,937 12,356 
MA6538,786 120,291 546,958 69,802 120,472 616,579 737,051 140,277 
MD4471,078 157,195 450,952 46,923 156,605 498,465 655,070 124,999 
ME5— 2,352 86,339 792 2,352 87,131 89,483 3,195 
MI114,199 13,162 89,881 7,467 13,162 97,348 110,510 15,525 
MN7— 9,696 74,960 7,143 9,696 82,103 91,799 12,120 
MO29— 33,809 357,853 15,112 33,768 373,006 406,774 24,006 
MS7— 9,053 82,098 2,646 9,052 84,745 93,797 7,868 
NC54— 93,492 557,728 17,743 93,489 575,473 668,962 47,845 
NH17— 50,952 195,719 3,393 51,015 199,049 250,064 10,291 
NJ9078,795 310,950 1,081,676 84,560 317,420 1,159,766 1,477,186 242,193 
NM1224,572 32,248 72,559 8,450 32,247 81,010 113,257 19,464 
NV3315,783 98,798 477,649 14,252 98,973 491,726 590,699 35,384 
NY803,235 341,104 1,200,614 83,904 342,924 1,282,698 1,625,622 140,005 
OH509,920 71,460 388,236 27,786 71,459 416,023 487,482 36,109 
OK4— 3,917 28,534 458 3,917 28,992 32,909 1,191 
OR823,319 15,066 68,044 3,159 15,066 71,203 86,269 16,087 
PA3110,386 57,671 356,325 39,082 56,997 396,080 453,077 57,399 
RI63,585 6,132 55,033 2,124 6,131 57,158 63,289 6,045 
SC4627,568 65,032 385,333 16,162 65,036 401,491 466,527 52,193 
TN3130,338 55,637 259,210 17,107 55,637 276,317 331,954 44,087 
TX27461,631 587,514 2,788,363 117,215 587,843 2,905,249 3,493,092 285,874 
UT1015,895 9,008 39,295 10,751 9,008 50,046 59,054 16,988 
VA7343,618 198,998 842,848 46,577 198,998 889,425 1,088,423 152,288 
WA164,729 68,560 188,949 15,257 68,562 204,204 272,766 24,049 
WI2— 2,192 31,270 463 2,192 31,733 33,925 706 
DC17,201 14,394 18,172 739 14,394 18,911 33,305 4,429 
Other corporate assets— — 11,037 270,344 — 281,381 281,381 96,203 
Intangible tenant relationships and lease rights— — 354,183 — — 354,183 354,183 317,639 
Construction in Progress/Undeveloped Land— 25,002 4,383 100,446 23,712 106,188 129,900 1,191 
Right of use asset - finance lease— — — 140,259 — 140,259 140,259 15,727 
Totals (1)
1,976$1,013,661 $4,989,355 $21,097,440 $1,839,903 $4,994,642 $22,932,121 $27,926,763 $3,339,136 

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.
Activity in real estate facilities during the years ended December 31, 2024, 2023 and 2022 is as follows:
202420232022
Operating facilities
Balance at beginning of year$27,061,533 $12,084,025 $10,643,722 
Acquisitions590,044 14,715,285 1,390,463 
Improvements200,333 175,932 95,282 
Transfers from construction in progress148,702 87,485 70,565 
Dispositions and other(175,142)(1,194)(116,007)
Balance at end of year$27,825,470 $27,061,533 $12,084,025 
Accumulated depreciation:
Balance at beginning of year$2,624,405 $2,138,395 $1,868,321 
Depreciation expense714,731 486,010 276,155 
Dispositions and other— — (6,081)
Balance at end of year$3,339,136 $2,624,405 $2,138,395 
Real estate under development/redevelopment:
Balance at beginning of year$118,745 $52,348 $59,248 
Current development131,249 153,920 63,597 
Transfers to operating facilities(148,701)(87,523)(70,565)
Dispositions and other— — 68 
Balance at end of year$101,293 $118,745 $52,348 
Net non-lease real estate assets (1)
$24,587,627 $24,555,873 $9,997,978 
(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.
As of December 31, 2024, the aggregate cost of real estate for U.S. federal income tax purposes was $19,115,556.