Profile: CubeSmart (CUBE.N)
15 Feb 2019
CubeSmart, incorporated on July 26, 2004, operates as a self-managed and self-administered real estate company. The Company focuses on the ownership, operation, management, acquisition and development of self-storage properties in the United States. The Company's self-storage properties are designed to offer storage space for its residential and commercial customers. Its customers rent storage cubes for their exclusive use. Additionally, some of its stores offer outside storage areas for vehicles and boats. Its stores are designed to accommodate both residential and commercial customers, with features, such as aisles and load-bearing capabilities for truck access. Its self-storage properties are located in metropolitan areas, as well as suburban areas. The Company owns its assets and conducts its business through the CubeSmart, L.P. (Operating Partnership) and its subsidiaries.
The Company's storage facilities offer lockers, mini storage units and large 10 feet x 30 feet storage rooms. The Company offers various storage options, including household and personal storage, business storage, vehicle and car storage, recreational vehicle (RV) storage, boat storage, motorcycle storage, moving storage and military storage. Its self-storage for business includes business storage, sales representative storage, contractor storage, retail inventory storage and office storage. It also offers motorcycle, jet-ski and all terrain vehicle (ATV) storage. It also offers CubeSmart Services, which include logistic services, such as package receipt and item storage and retrieval; office amenities, such as work stations, lounge area and professional shredding; moving services, such as free local moving truck, truck rentals, moving and labor assistance, and full-service moving; organizational services, such as professional organizer services and organizational supplies, and storage customization, such as individual lighting and electricity, video monitoring, shelving options, automatic door openers and remote controlled access. In addition to its a range of selection of storage units, most of its facilities offer features, such as moving carts, roll-up doors and drive-up access storage units.
As of December 31, 2016, the Company owned 475 self-storage properties located in 23 states and in the District of Columbia containing an aggregate of approximately 32.9 million rentable square feet. As of December 31, 2016, approximately 89.7% of the rentable square footage at its owned stores was leased to various customers. As of December 31, 2016, the Company owned stores in the District of Columbia and the 23 states, including Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas, Utah and Virginia. In addition, as of December 31, 2016, it had managed 316 stores for third parties (including 116 stores containing an aggregate of approximately 6.8 million rentable square feet as part of three separate unconsolidated real estate ventures). As of December 31, 2016, it had stores for third parties in the 26 states, including Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont and Virginia.
The Company competes with Public Storage, Extra Space Storage Inc. and Life Storage, Inc.
5 Old Lancaster Rd
MALVERN PA 19355-2132