Vice President, Commercial Portfolio

About Public Storage

Since opening our first self-storage facility in 1972, Public Storage has grown to become the largest owner and operator of self-storage facilities in the world. With thousands of locations across the U.S. and Europe, and more than 170 million net rentable square feet of real estate, we're also one of the largest landlords.

We've been recognized as A Great Place to Work by the Great Place to Work Institute. And, our employees have also voted us as having Best Career Growth , ranked us in the Top 5% for Work Culture , and in the Top 10% for Diversity and Inclusion .

We're a member of the S&P 500 and FT Global 500 . Our common and preferred stocks trade on the New York Stock Exchange.

Public Storage is the nation’s leading self-storage provider, recognized for its iconic orange doors and commitment to delivering simple, reliable solutions to millions of customers across the country. We are expanding our creative team to enhance our consistent and engaging visual brand presence.

Description

The Vice President, Commercial Portfolio is a senior strategic leader responsible for driving revenue growth, optimizing portfolio performance, and overseeing all commercial operations across the Company’s commercial asset platform. This role provides executive leadership across Retail Leasing, Property Management, Asset Management, and Cell Tower revenue functions, ensuring alignment with overall company objectives and long-term capital allocation strategies.

The Vice President, Commercial Portfolio holds full accountability for the business unit’s financial performance, operational execution, and strategic growth initiatives. This leader will shape the commercial vision, enhance financial visibility, optimize asset performance, and build high-performing teams that deliver measurable revenue and NOI growth.

Key Responsibilities

Commercial Strategy & Leadership

• Develop and execute a comprehensive commercial portfolio strategy focused on revenue growth, margin expansion and long-term value creation.

• Establish measurable KPIs across revenue, NOI, occupancy, lease term, and operating performance.

• Lead annual business planning, forecasting, and long-range growth initiatives.

• Collaborate closely with Executive Leadership to align commercial strategy with broader capital allocation objectives.

• Provide regular executive-level updates, performance dashboards, and strategic recommendations.

Revenue Growth & Retail Leasing

• Oversee national retail leasing strategy and execution.

• Drive structured rent escalations, lease term extensions, and renewal optimization.

• Reduce vacancy and downtime through proactive broker and tenant engagement.

• Optimize tenant mix and merchandising strategy by market and asset.

• Monitor leasing pipeline performance and revenue productivity.

Property Management & Operational Excellence

• Oversee operational performance across the commercial portfolio.

• Standardize processes and best practices across markets.

• Improve expense ratios, CAM recoveries, and operating efficiency.

• Lead asset-level business plan development and performance reviews.

• Travel to markets to evaluate site-level performance and lead field engagement.

• Ensure consistent data integrity and reporting across all properties.

Financial Oversight & Portfolio Optimization

• Maintain full P&L responsibility for the Commercial Portfolio business unit.

• Develop and manage annual budgets and rolling forecasts.

• Provide detailed financial analysis to support executive decision-making.

• Evaluate ROI of leasing initiatives, capital improvements, and repositioning strategies.

• Identify underperforming assets and implement turnaround or repositioning plans.

• Recommend re-mix, re-tenanting, or disposition strategies where appropriate.

• Optimize portfolio yield and return on invested capital.

Systems, Reporting & Cross-Functional Collaboration

• Oversee commercial software platforms and ensure system optimization.

• Drive automation, reporting accuracy, and operational transparency.

• Partner with Finance, Acquisitions, Development, and Operations to enhance asset value.

• Ensure organizational readiness for new initiatives, growth strategies, and market expansion.

Team Leadership & Development

• Lead, mentor, and scale a high-performance national commercial team.

• Establish clear goals, accountability frameworks, and performance metrics.

• Drive a culture of ownership, continuous improvement, and data-driven decision-making.

• Oversee hiring, succession planning, and organizational structure for the business unit.

Qualification

Required

• Bachelor’s degree in Business, Finance, Real Estate or related field.

• 12+ years of progressive experience in commercial real estate, leasing, asset management, or portfolio operations.

• Demonstrated experience managing full P&L responsibility.

• Proven track record of driving revenue growth and operational improvement across multi-market portfolios.

• Strong financial acumen, including budgeting, forecasting, and capital allocation analysis.

• Experience leading multi-disciplinary teams across multiple markets or regions.

Preferred

• Master’s degree (MBA or related field).

• Experience in retail leasing portfolios and recurring revenue platforms.

• Background in asset management and portfolio optimization strategy.

• Experience presenting to executive leadership and board-level audiences.

Key Competencies

• Strategic portfolio leadership

• Financial and Operational rigor

• Executive-level communication and presentation skills

• Data-driven decision-making

• Negotiation and lease structuring expertise

• Change leadership and organizational agility

• Cross-functional collaboration

Working Conditions

• Ability to travel as required.

• This is an in office position with 3 flex days a month.

Additional Information

Workplace

• One of our values pillars is to work as OneTeam and we believe that there is no replacement for in-person collaboration but understand the value of some flexibility. Public Storage teammates are expected to work in the office five days each week with the option to take up to three flexible remote days per month.

Public Storage is an equal opportunity employer and embraces diversity. We do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status. All qualified candidates are encouraged to apply.

**Sponsorship for Work Authorization is not available for this posting. Candidates must be authorized to work in the U.S. without requiring sponsorship now or in the future.**

Compensation may vary outside of this range depending on a number of factors, including a candidate’s qualifications, skills, competencies and experience, and location. Base pay is one part of our total awards approach to compensation which is provided to compensate and recognize employees for their work, and this role may be eligible for additional discretionary bonuses or incentives.