Grubb & Ellis Company Represents Midtown Self Storage in Sale of 534-Unit Property to CubeSmart
HOUSTON, TX – Grubb & Ellis Company today announced that its Self Storage practice group represented Midtown Self Storage in the sale of a 534-unit, 47,585-square-foot Class A self storage facility located at 1019 West Dallas in Houston.
Steve Mellon, vice president in Grubb & Ellis’ Houston office, and Pete Williams, executive vice president at Grubb & Ellis|Memphis, facilitated the sale to CubeSmart, a self-administered and self-managed real estate investment trust that owns or manages 456 self storage facilities across the United States.
Built in 2004, the institutional-quality property is located in an area with excellent growth projections over the next five years. The award-winning development, designed by Meeks + Partners, is located in one of Houston’s premier up-and-coming neighborhoods and enjoys high exposure from traffic commuting to and from downtown Houston.
“The property at 1019 West Dallas features newer construction that includes state-of-the-art systems, covered loading areas and climate control,” said Mellon. “In addition, its street presence and location make it a top choice among area customers.”
About Grubb & Ellis
Grubb & Ellis Company is one of the nation’s largest commercial real estate services firms, providing transaction services, property management, facilities management and valuation services through more than 100 company-owned and affiliate offices. Our 4,300 professionals draw from a unique platform of services and practice groups to deliver integrated solutions to real estate owners, tenants and investors, and each business is supported by highly regarded proprietary market research, best-in-class processes and extensive local expertise. In 2011, Grubb & Ellis completed approximately 12,000 sale and lease transactions and the company and its affiliates currently manage more than 250 million square feet of property. For more information, visit www.grubb-ellis.com.]]>