Washington Property Company (WPC) of Bethesda, has delivered a second self storage facility in Rockville, Maryland. Visible from I-270 and accessible from the Shady Grove Road exit, the 87,723 square foot structure offers 720 climate-controlled storage units of varying sizes, opening to interior air-conditioned corridors. An additional 51 non-conditioned drive-up units are situated along the building’s perimeter.
In 2016, WPC completed conversion of an obsolete 82,000 SF office building at 4 Research Place in Rockville to self storage use. WPC’s new USD15.6 million self-storage building was built from the ground up in the former office building’s parking lot. Now the two self-storage facilities share the same convenient location.
Both facilities are professionally managed by CubeSmart, one of the nation’s top four owners and operators of self-storage facilities. The buildings’ top two floors have elevator access while the lower levels are at grade, allowing customers who rent storage space on the lower floors to wheel items directly from the parking lot into their storage units. Wide loading/unloading areas with easy building access were designed to make moving quick and convenient.
“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,” says WPC Vice President of Development Janel Kausner. “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.”
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.