CubeSmart squares off in Odessa, Midland

ODESSA, MIDLAND - Four self-storage facilities, totaling 361,490 sf, have been sold in west Texas for $32.6 million. The buyer was W. P. Carey Inc.

The portfolio’s four assets include: 

• Grandview Self-Storage Center, Odessa;
• West County Road Self-Storage Center; Odessa;
• Loop 250 Self-Storage Center, Midland; and
• Midkiff Self-Storage Center, Midland.
   

"The Midland-Odessa area is thriving due to energy demand, with year-over-year economic growth of 13.5 percent," said Brandon Karr of Marcus & Millichap’s Fort Worth office.

CubeSmart will manage all four properties.

Source: Marcus & Millichap