The Real Deal Miami

CubeSmart buys Lake Worth self-storage facility

REIT spends $11.5 million on nearly 112,000-square-foot building
April 28, 2014 01:30PM

1519 North Dixie Highway

1519 North Dixie Highway

A self-storage facility in Lake Worth changed hands for $11.5 million, The Real Deal has learned.

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. — Eric Kalis