The Stubblebine Company sells 400-unit Cumberland Self Storage facility for $4.1 Million

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CUMBERLAND, RI–Storage Pros recently purchased Cumberland Self Storage, a 400-unit self-storage facility built in the early 2000’s, for $4,100,000. David and James Stubblebine, principals of The Stubblebine Company/CORFAC International, represented both the Seller, Summit RES, and the Buyer, Storage Pros, in the transaction.

Storage Pros Management LLC and its affiliated companies (“Storage Pros”) specialize in the acquisition, development, improvement, and management of self-storage facilities. The Company was founded in early 2007 and currently owns 48 properties and manages a total of 54, all within the states of Massachusetts, Michigan, Florida, and Tennessee.

Cumberland-sStorage Pros properties total more than 3.229 million square feet of self-storage space and more than 25,967 storage units with an additional 2,180 outdoor parking spaces for rent. Storage Pros’ primary focus is the acquisition and re-positioning of existing self-storage facilities with value-add opportunities to improve facility operations and their physical condition.

Summit Real Estate, an owner, manager and developer of Commercial Real Estate throughout New England, is currently developing a 100,000 s.f. state of the art Sports Complex with two ice rinks and an indoor turf field in Middleton, MA just off Route 95.

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