November 16, 2017

Storage sites in Northborough sell for $9M

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The self-storage facility at 241 Southwest Cutoff (Route 20) in Northborough. It's now branded as CubeSmart.

Two CubeSmart storage facilities in Northborough have sold for a combined $9 million.

The facilities are located at 241 Southwest Cutoff (Route 20) and at 160 Otis St. CubeSmart recently took over management and branding of the sites, a spokesman said.

Both properties were sold by SGI-Northboro LLC to Storage Pros Northborough. The sales closed Oct. 18, according to the Worcester District Registry of Deeds.

Storage Pros Northborough is part of Storage Pros Management, a company that owns or manages 19 storage facilities in six states, according to the industry publication Inside Self-Storage.

The Route 20 site, which sits near the Northborough Commons shopping center, sold for $6.3 million. The nearly 6-acre parcel last sold in 1999 for just $285,000, according to town property records. It was last assessed at $4.2 million.

The Otis Street site, which is accessible from Route 9, sold for $2.7 million. It was last assessed at $1.7 million and last sold in 2005 for $1.5 million.

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