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Extra Space Storage to Buy Life Storage for $12.7 Billion, McDonald’s May Face Layoffs, Construction Spending Falls, Manufacturing Drop Eases

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McDonald's is reportedly preparing to announce layoffs in its corporate offices. (CoStar)
McDonald's is reportedly preparing to announce layoffs in its corporate offices. (CoStar)
CoStar News
April 3, 2023 | 9:13 P.M.

Real estate investment trust Extra Space Storage agreed to buy smaller rival Life Storage for $12.7 billion in a deal that the companies said would create the biggest U.S. self-storage business by number of locations.

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