Compass Self Storage, a member of the Amsdell family of companies, has purchased a facility in Taunton, Mass., that was previously managed by CubeSmart, a publicly traded self-storage real estate investment trust and third-party management firm. The property at 33 Chandler Ave. was purchased by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC and will be rebranded under the Compass name.
Renovations are underway for the facility, which comprises more than 44,000 net rentable square feet of storage space. Compass plans to add a new rental office and elevator as well as an upgraded security system. Property amenities include climate control, electronic access, vehicle storage, truck rental, and a retail center selling moving and packing supplies.
"We believe the improvements we have planned for this Compass Self Storage location will deliver an upgraded customer experience as we provide a convenient, one-stop shop for the moving and storage needs of the residents of this area," said Todd Amsdell, president.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. Since its inception, the company has been active in several billions of dollars of real estate ventures, with a primary focus on self-storage. It has owned and operated more than 500 storage centers under various trade names in more than 27 states. It currently owns and operates properties in Florida, Georgia, Kentucky, Michigan, Mississippi, New Jersey, Ohio, Pennsylvania, Tennessee and Texas.
CubeSmart owns or manages 674 self-storage facilities across the United States. Its operating portfolio comprises more than 41 million square feet.
