Drive-In Self Storage in Uxbridge, Mass., was recently purchased by a Boston-based real estate investment and management firm for $4.5 million. Albany Road–Uxbridge Storage LLC, an affiliate of Albany Road Real Estate Partners, acquired the property at 35 Balm of Life Spring Road.
The seller was R & D Partners, a firm affiliated with Harvey Rogoff, an accountant from Long Island, N.Y., and Noah Dorsky, an N.Y. businessman, according to the source. Rogoff and Dorsky purchased the 5.42-acre property in 1994 for $510,000.
The property was originally built in 1987, with expansions added in 1996 and 1998. It currently includes 55,285 square feet of storage space.
Founded in 2012 by four partners, Albany Road Real Estate Partners is actively pursuing acquisition opportunities with the goal of having $500 million in gross assets under its management by its fifth year of business, according to the company’s website. The company has purchased 10 properties, including four self-storage facilities in Connecticut: Simsbury Self-Storage and West Street Self-Storage in Simsbury; Waterbury Self-Storage in Waterbury; and Blue Cube Self-Storage in Bloomfield.
Drive-In Self Storage operates one facility in East Syracuse, N.Y.
Sources:
- Albany Road Real Estate Partners: Website
- WB Journal: Uxbridge Self-Storage Site Sold for $4.5M
