Achieved funds from operations (FFO) of $0.24 per diluted share including development dilution of $0.03 per share and a one-time $0.02 per share charge resulting from the bankruptcy of a tenant sub-leasing office space from the company under a long-term office lease assumed  in the 2005 Storage USA acquisition.

Grew same-store occupancy by 180 basis points to 85.8 percent, compared to 84 percent from the same period a year ago.

Increased same-store revenue and net operating income (NOI) for the by 3.9 percent and 7.8 percent, respectively, compared to the same period in 2009. Same-store revenue and NOI includes tenant reinsurance income and expense.

Acquired three properties from the company's third-party management program for approximately $5.4 million.  Subsequent to the end of the quarter, Extra Space acquired three additional properties for $21.2 million.

Completed the development of one property at a total cost of $8.5 million.

Added 21 properties to the company's third-party management platform.