Public Storage, based in California, is a REIT that operates self-storage facilities. As of the end of 2021, the company had 2,787 self-storage facilities in the U.S., with 193 million square feet of rentable space, and a 35% equity stake in Shurgard Europe, with 253 facilities and 14 million square feet of rentable space. The European storage market has underperformed the U.S. market. The company sold its 41% interest in PS Business Parks, a public REIT that invests in office and industrial real estate, in July 2022. PSA currently has self-storage properties in 35 states, with 41% of these properties in California, Texas, and Florida