This is CubeSmart’s first Rockville location
September 6, 2016: Washington Property Co. (WPC), a Bethesda, Md.-based commercial and residential real estate firm, recently converted an 82,000-square-foot office building in Rockville, Md., to a self-storage facility.
Branded as CubeSmart, the four-story building at 4 Research Place has 715 climate-controlled units. The top two floors have elevator access, while the bottom two levels are at grade, according to the source. The facility is open for business.
According to the company website, WPC specializes in property acquisitions, development, financing, and leasing and property management, among other services.
The source reported that, the company also recently acquired an office building adjacent to the CubeSmart facility in a joint venture with investment manager Alex Brown Realty Inc. for $17 million.
CubeSmart owns or manages 741 self-storage
facilities across the United States. Its operating portfolio comprises 49.1 million square feet.