CubeSmart Boston CubeSmart Boston

For an eye-popping $213 per square foot, CubeSmart has purchased a self-storage facility in Boston, MA. That per-square-foot amount is well beyond the $75 national average calculated by Marcus & Millichap for facility purchases over the past year. CubeSmart, one of the country’s four publicly traded self-storage REITs, bought the 108,400-square-foot facility for $23.1 million. That’s about $22…

self-storage construction self-storage construction

As U.S. consumer spending rebounds, the self-storage industry is building more facilities where Americans can stash their ever-growing collections of stuff. Developers will complete 4.7 million square feet of storage space in 2014, according to a new report from real estate brokerage firm Marcus & Millichap. That’s about 46 percent more than the 3.2 million…