CubeSmart, a self-storage real estate investment trust (REIT), has been selected by American Storage to manage its 31 facilities in Georgia, North Carolina and South Carolina. The properties, which comprise approximately 1.2 million square feet, will be incorporated into CubeSmart's property-management program, bringing the number of facilities under the companys third-party services to 136.
Although CubeSmart will assume management of the portfolio beginning Aug. 1, the facilities will continue to operate under the name American Storage, officials said.
"The addition of the American Storage properties builds on CubeSmart's existing presence in the Southeast while further strengthening the scale advantages of our operational footprint," said Chris Marr, CubeSmart president and chief operating officer.
CubeSmart's third-party program offers a variety of self-storage management services, including operational, marketing, revenue-management and technological strategies.
CubeSmart owns or manages 479 self-storage facilities across the United States and operates the CubeSmart Network, which consists of approximately 850 additional self-storage facilities.