Vertical Fields Capital LLC Property in Philadelphia Suburb Successfully Converted Into Self Storage Facility, Open for Business
Renovation of vacant building, addition of two others, in Clifton Heights/Primos area attracting strong lease interest.
Washington, DC, February 15, 2018 --(PR.com)-- Following the completion of an ambitious multi-phase project, a formerly vacant single building in a Philadelphia suburb is now open for business as a comprehensive three-building self-storage facility, Vertical Fields Capital LLC announced Wednesday. The company, which purchased the 500 Mildred Avenue property in Primos, Pennsylvania, in 2016, added it has received its full Certificate of Occupancy – and there has already been strong customer move-ins.
“When we acquired this property, it was totally vacant, the former home of a local newspaper,” said Vertical Fields Founder and President Frederick McCarthy. “It is now a thriving self-storage property with multiple buildings offering a broad range of climate-controlled and direct-access units. The strategic improvements and extra capacity allows us to meet strong demand in this densely-populated Philadelphia suburb, an area with few quality self-storage options.”
The property now operates under the CubeSmart brand. It boasts over 81,500 net rentable square feet and 720 units split between internal, climate-controlled and direct-access self storage.
The project was partially funded with bank financing from WSFS Bank.
About Vertical Fields Capital LLC
Vertical Fields Capital LLC, a Washington, D.C.-based real estate development and investment firm, is focused on acquiring, repositioning and operating self-storage facilities in dense and growing in-fill locations in the top MSAs of the United States.
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 598 self-storage facilities across the United States. According to the 2015 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.
The company plans to exceed customer expectations by adding more personalized services and technology to some of the best storage spaces around. The company's self-storage facilities are designed to offer affordable, easily accessible, secure, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. CubeSmart® services include storage customization, logistics services, comprehensive moving services, organizational services and office amenities.
“When we acquired this property, it was totally vacant, the former home of a local newspaper,” said Vertical Fields Founder and President Frederick McCarthy. “It is now a thriving self-storage property with multiple buildings offering a broad range of climate-controlled and direct-access units. The strategic improvements and extra capacity allows us to meet strong demand in this densely-populated Philadelphia suburb, an area with few quality self-storage options.”
The property now operates under the CubeSmart brand. It boasts over 81,500 net rentable square feet and 720 units split between internal, climate-controlled and direct-access self storage.
The project was partially funded with bank financing from WSFS Bank.
About Vertical Fields Capital LLC
Vertical Fields Capital LLC, a Washington, D.C.-based real estate development and investment firm, is focused on acquiring, repositioning and operating self-storage facilities in dense and growing in-fill locations in the top MSAs of the United States.
About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 598 self-storage facilities across the United States. According to the 2015 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.
The company plans to exceed customer expectations by adding more personalized services and technology to some of the best storage spaces around. The company's self-storage facilities are designed to offer affordable, easily accessible, secure, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. CubeSmart® services include storage customization, logistics services, comprehensive moving services, organizational services and office amenities.
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