Self-Storage Facility Trades For $11.5 Million

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A self-storage facility in Lake Worth changed hands for $11.5 million.

Ample Storage Lake Worth sold the nearly 112,000-square-foot facility at 1519 North Dixie Highway on April 21, according to Palm Beach County records. The Smithfield, N.C.-based company paid $321,436 in August 2003 for the 3.4-acre property and constructed the facility the following year.

CubeSmart of Malvern, Pa. is the buyer. It did not obtain financing for the purchase.

A real estate investment trust, CubeSmart paid $6 million in December 2013 for a bankrupt self-storage site in Fort Lauderdale.

 
Source:  The Real Deal