Self-storage real estate investment trust CubeSmart has acquired a 534-unit, 47,585-square-foot facility, formerly branded as Midtown Self Storage, at 1019 W. Dallas in Houston. Built in 2004, the facility is in Houston's Fourth Ward, just west of Interstate 45 and downtown. The development, designed by the Houston-based architecture firm Meeks + Partners, includes covered loading areas and climate control. The source reported the neighborhood is projected to undergo growth over the next five years.
Houston-based Steve Mellon, vice president at commercial real estate broker Grubb & Ellis Co., and Pete Williams, executive vice president at the company's Memphis office, facilitated the sale.
CubeSmart owns or manages 456 facilities across the United States and operates the CubeSmart Network, which consists of approximately 838 additional self-storage facilities. The companys services include storage customization, logistics, moving, organizational and office amenities.
Sources:
- CityBiz Real Estate: Midtown Self Storage Sells 534-Unit Houston Property to CubeSmart