SOURCE: CubeSmart

CubeSmart

March 23, 2016 16:30 ET

CubeSmart Introduces Austin's First 'Net Zero Energy' Self-Storage Facility

Climate-Controlled Facility With Innovative Conservation Features Opens in South Austin

AUSTIN, TX--(Marketwired - March 23, 2016) - CubeSmart, a leading national owner and operator of self-storage facilities, has opened Austin's first "net zero" commercial building -- meaning it generates more solar energy than it consumes. The self-storage facility opened for business on March 22 and is located at 6130 E. Ben White Blvd., at the corner of East Ben White Boulevard and Montopolis Boulevard.

The property developer, Farragut Investments, Inc., worked closely with Austin Energy Green Building to implement innovative energy, water, and material conservation strategies for the 77,000-square-foot, state-of-the-art, climate-controlled self-storage facility. Its features combine to create net zero energy status, including one of the largest solar PV arrays on any storage facility in the state, geothermal heating and cooling, geothermal wells, three rainwater towers and a regenerative drive elevator, which generates electricity from elevator movement. Initially, the building is energy positive, producing more energy than the site needs. A second storage building on the site is expected to be completed in 2017, making the complex net zero energy in balance with production and demand.

The property is operated on Farragut's behalf through CubeSmart's third-party self-storage management program. With this addition to its portfolio, CubeSmart owns or operates a total of 20 facilities in the Austin area.

"This building is a valuable addition to our third party management program and our Austin self-storage portfolio," said Guy Middlebrooks, Vice President of Third Party Management for CubeSmart. "This new state-of-the-art facility allows us to serve environmentally conscious Austin customers with a convenient location that is easily accessible to most downtown and South and East Austin residents."

Farragut is working to achieve a four-star rating from Austin Energy Green Building. In addition, the building is subscribed to Austin Energy's GreenChoice Program, which ensures that if the site needs to purchase additional power, Austin Energy will provide 100 percent Texas wind-generated energy rather than fossil fuel-generated power. The program supports Texas-sourced energy and local jobs, and allows the facility to support Austin's renewable energy goals.

"We've worked diligently to ensure our facility is a positive addition to Austin by providing efficient features that serve the local community in many ways," said Robert Ruggles, Vice President of Development for Farragut Investments, Inc. "Every inch of this project, from energy management to the preservation of green space for conservation, natural resources, native trees, and landscaping, has been designed to give back to Austin and the environment."

Located just a ten-minute drive from the South Lamar, South Congress, and downtown Austin neighborhoods, the fully fenced and gated facility features a 24-hour digital security monitoring system, high-definition security cameras and secure keypad entry. The building is also carpeted to enhance the customer experience.

About Farragut Investments, Inc.
Illinois-based Farragut Investments, Inc., is a privately owned firm that invests in real estate and other alternative investments on behalf of the principals of the firm and a group of long-standing investment partners. Since the firm's inception in 1990, the principals of Farragut have personally been involved in 87 distinct transactions valued at $8 billion with an average size of more than $90 million.

About CubeSmart
CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 703 self-storage facilities across the United States. According to the 2016 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.

The Company's mission is to simplify the organizational and logistical challenges created by the many life events and business needs of its Customers -- through innovative solutions, unparalleled service, and genuine care. The Company's self-storage facilities are designed to offer affordable, easily accessible, secure, and, in most locations, climate-controlled storage space for residential and commercial customers.

CubeSmart Management currently provides all-inclusive third-party self-storage property management services for 247 locations across the United States. To learn more about CubeSmart Management third-party self-storage property management services, visit www.CubeSmart.com/manager or call one of CubeSmart's knowledgeable experts at 877-245-1614.

For more information about business and personal storage or to learn more about the Company and find a nearby storage facility, visit www.CubeSmart.com or call CubeSmart toll-free at 800-800-1717.

Contact Information

  • Company Contact:
    CubeSmart
    Charles Place
    Director, Investor Relations
    (610) 535-5700