The company plans to build two-story structures containing a total of 750 units
November 29, 2017: CubeSmart, a self-storage real estate investment trust (REIT) and third-party management firm, is building a facility in Tewksbury, Mass. The site will include 19 parking spaces.
According to the source, the project was approved last year, but land clearing has just begun.
During a public hearing in July 2016, planning-board members and REIT representatives worked through several issues, including the traffic and construction impacts on the area, lighting concerns, and the use of vegetation as a screen. CubeSmart agreed to install a solid, 6-foot, vinyl fence on the north side of the property and a 6-foot, chain-link fence at the rear and south sides. Following the discussion, the planning board approved a special permit for the site plan.
CubeSmart also operates an existing self-storage facility in Tewksbury. The company purchased the three-story property at 545 Clark Road in 2014. It owns or manages 908 self-storage facilities across the United States, with an operating portfolio comprising 61.4 million square feet.