Marc Tropp Of Eastern Union Secures $13.3M Financing For Self Storage Facility In Worcester MA

The property involved in this transaction is a climate-controlled self-storage facility located at 80 Barber Avenue, Worcester, MA. It consists of 931 units and spans a total of 126,260 square feet. The sale price of the facility was $13,297,000, equating to a price per unit of $14,282 and a price per square foot of $105.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $13,297,000
• Units: 931
• Square Footage: 126,260 SF
• Price Per Unit: $14,282
• Price Per Square Foot: $105
• Date of Transaction: 07/24/2024
• Broker: Marc Tropp - Eastern Union

Marc Tropp of Eastern Union was instrumental in facilitating this deal by securing $13.3 million in financing. The self-storage facility is managed by CubeSmart and includes various security features and onsite amenities. The deal succeeded despite challenges posed by previous delays from the original lender.