ARGUS BROKER AFFILAITE SELLS SELF STORAGE FACILITY FOR $11.1 MILLION
Joseph Mendola, SVP of NAI Norwood Group in Bedford, NH has brokered the sale of 495 Storage at 545 Clark Road in Tewksbury, MA. NAI Norwood Group represented the sellers, 495 Storage, LLC in this transaction and assisted the buyers, Cube Smart, LP. The purchase price is $11.1 million. The sellers built a state of the art 90,000+/- SF climate controlled facility on three floors. The property has good visibility to I-495 at the Route 38 exit in Tewksbury, MA. It is also strategically located across from a community shopping center with Market Basket as an anchor tenant.
Cube Smart is a self-managed real estate company specializing in the management,
development and acquisition of self-storage facilities around the US. The company owns or manages over 380 facilities. They use their management expertise to maximize the value of their facilities while giving the consumer a good self-storage experience. This acquisition of 495 Storage fits nicely into the Cube Smart plan to increase its presence in the New England self-storage market. 495 Storage is the fifth acquisition in the Greater Boston Market. Other acquisitions include facilities in Brighton, Boston, Stoneham and Medford, Massachusetts. It also has facilities under management in Southern New Hampshire.
NAI Norwood Group is an affiliate of NAI Global, the world’s leading managed network of independently owned commercial real estate brokerage firms. With our extensive background and strong local contacts, we are able to assist individual corporations in negotiating leases, sales, business brokerage, investments, relocation, site selection and development. For more information please visit www.nainorwoodgroup.com.
About the Argus Self Storage Sales Network
Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the ASSSN has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit www.argus-selfstorage.com.