News: Front Section

True Storage opens 22nd Class A self storage facility

Methuen, MA True Storage recently opened its 22nd Class A self-storage facility. Located at 14 Calumet Rd., this project showcases True Storage’s dedication to quality and focus on delivering state of the art Class A storage facilities. Day-to-day operations will be managed by CubeSmart, while True Storage retains ownership of the property. 

This ground up development features 88,835 net rentable s/f throughout 956 units of varying sizes to accommodate local individuals and businesses storage needs. True Storage obtained the 6.2-acre property in November of 2020 after receiving unanimous approval from the Methuen development board in September 2020. 

“This state-of-the-art Class A development is a showcase of our teams hard work and focus on delivering best in class industry leading properties, that truly improve communities” said Chris Lewis, director of Architecture & Design for True Storage. “We are excited to be part of the Methuen community and have enjoyed working with Methuen City Officials throughout the entire development process.” 

CubeSmart customers will find, that this location has access to Route 495, located right off Exit 104 and is surrounded by several national retailers and restaurants. This site will feature flexible hours, 24-hour interior and exterior video surveillance, security access to the unit, an assortment of unit sizes, covered loading bay, and high-end finishes throughout the facility.

“It has given me great pleasure and pride to work on our largest new build storage facility to date” said Thomas Remmes, construction project manager for True Storage. “The team we have put together with all the sub-contractors have made these projects successful time after time. There is no time for rest though, we still have over two-million sf of projects under construction and looking to open at least a half dozen more by the years end! Every day is a new adventure and excited at all the opportunities we have to build new buildings and convert old abandoned properties to give them life again.”

True Storage, a self-storage developer that focuses on bringing value and lifestyle experiences to communities across the country, has proudly developed several other Class A facilities in Massachusetts, New Hampshire, Maine, Georgia, Rhode Island, Florida, Indiana, Connecticut, Wisconsin, Illinois, New York, and Kentucky. In addition to breaking ground on facilities in Michigan, Ohio, New York, Florida, and throughout the New England area, with a dozen more in the pipeline.

MORE FROM Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.