Devon Self Storage Buys 10 CubeSmart Facilities in Memphis, TN, for $31.3M

Affiliate companies of California-based Devon Self Storage Holdings LLC recently purchased 10 facilities in Memphis, Tenn., from real estate investment trust CubeSmart for $31.3 million. The properties comprise more than 678,800 square feet and were purchased through nine separate warranty-deed transactions.

Affiliate companies of California-based Devon Self Storage Holdings LLC recently purchased 10 facilities in Memphis, Tenn., from real estate investment trust CubeSmart for $31.3 million. The properties comprise more than 678,800 square feet and were purchased through nine separate warranty-deed transactions.

The facilities are:

Devon Self Storage Buys 10 CubeSmart Facilities***

CubeSmart owns or manages more than 500 self-storage facilities across the United States and operates the CubeSmart Network, which consists of more than 700 additional self-storage facilities.

Prior to the acquisitions, Devon Self Storage owned or managed 32 facilities nationwide. The company ranked No. 45 on the Inside Self-Storage 2013 Top-Operators List, an annual ranking of the industrys 100 largest operators based on net rentable square feet. Devons entire portfolio comprises more than 2.35 million square feet in 12 states.

Sources:

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish