July 24, 2020
Bethesda-based Washington Property Co. (WPC) has delivered a $15.6 million CubeSmart self-storage facility in Rockville, MD. The facility is the second that WPC has delivered in Rockville since 2016.
In 2016, WPC completed a conversion of an 82,000-square-foot office building at 4 Research Place in Rockville to self-storage use. The new 87,723-square-foot facility was built from the ground up in the former office building’s parking lot and features 720 climate-controlled units as well as an additional 51 non-conditioned drive-up units along the buildings perimeter. Both facilities are managed by CubeSmart.
“These state-of-the-art facilities, offering direct access to I-270, were designed with a focus on convenience and customer service to deliver the best self-storage experience possible,” said Janel Kausner, vice president of development at WPC. “Self-storage provides many advantages to local governing jurisdictions. It provides substantial tax revenue without generating traffic or burdening taxpayer-funded services such as public schools.”
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