CubeSmart Buys Self-Storage Facility in Alexandria, Va.

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Self-storage real estate investment trust CubeSmart has acquired a two-story self-storage facility in Alexandria, Va., for $19.75 million, or about $174 per square foot.

The industrial building at 4650 Eisenhower Ave. was built in 2000 and renovated in 2002. Known as the Self Storage Plus-Eisenhower building, the property is right off Interstate 495. It contains 113,732 square feet and includes more than 26 drive-in bays.

There were no real estate brokers involved in the transaction.

CubeSmart is focused on the ownership, operation, acquisition, development and management of self-storage facilities in the United States. The company owns or manages more than 530 self-storage properties and operates the CubeSmart Network, which consists of nearly 850 additional self-storage facilities.

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