Ken Woolley shares his incredible journey over 56 years in storage.

I sit down with Ken Woolley, the visionary Founder of Extra Space Storage, for a masterclass in industry history and leadership philosophy. Ken has been in the self-storage game for 56 years, witnessing the asset class transform from niche "garage rentals" into a mainstream institutional power player . Ken shares incredible stories from the early days, including his time as a management consultant in Boston and his 1973 study of the only 26 storage properties in Los Angeles . We discuss the current "tight spot" the industry finds itself in with cap rate shifts and excess supply, and why he remains bullish on the long-term demand driven by American consumerism . Key Takeaways from this Episode: Historical Context: How storage has evolved from $5/sq. ft. hard costs and 14% interest rates in the early 80s to the complex developments of today . The "Win-Win" Business Model: Why Ken rejected the idea that business is divided into "screwers and screwees," choosing instead to lead with kindness and partnership . Market Trends for 2026: Ken's take on why the Northeast and Midwest are currently stronger than the Sun Belt due to supply absorption . Acquisition Strategy: How Extra Space continues to deploy capital—buying $1.2 billion in 2025—despite a challenging stock and debt environment . Development Barriers: Why building in "tough" markets like Boston, New York, and California creates a long-term "quasi-monopoly" and superior cash flow . If you want to understand the soul of the storage industry, this conversation with one of its primary architects is essential listening. Connect with Thaddeus Campbell (S3 Partners): https://www.s3.partners https://www.linkedin.com/in/itsthadcampbell/ [email protected] Connect with Kenneth Woolley (Extra Space Storage): https://www.extraspace.com [email protected] This episode was brought to you by: https://www.kiwiconstruction.com