CubeSmart

Real estate investment trust

NYSE: CUBE
S&P 400 component

IndustryReal estate investment trustFoundedJuly 2004; 19 years ago (2004-07) in Maryland, U.S.HeadquartersMalvern, Pennsylvania, U.S.

Number of locations

611 stores (December 2022)

Key people

Christopher P. Marr (CEO)
Timothy M. Martin (CFO)
Joel Keaton (COO)ProductsSelf storageRevenue

US$1.009 billion (2022)

Net income

US$291 million (2022)Total assets

US$6.325 billion (2022)Total equity

US$2.840 billion (2022)

Number of employees

2,804 (2022)Websitewww.cubesmart.comFootnotes / references
^[1]

CubeSmart is a real estate investment trust that invests in self storage facilities in the United States. As of December 31, 2022, it owned 611 self storage properties in 24 states and the District of Columbia containing 44.1 million rentable square feet.^[1] It is the 3rd largest self storage company in the United States.

The company was known as U-Store-It Trust until 2011.

History

The company was founded in July 2004 as U-Store-It Trust.^[1]

In October 2004, the company became a public company via an initial public offering.^[2]

In December 2008, the company moved its headquarters to Malvern, Pennsylvania.^[3]

On September 14, 2011, the company changed its name to CubeSmart.^[4]

In December 2021, the company acquired Storage West for $1.7 billion.^[5]

References

^ ^a ^b ^c "Cubesmart 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
^ "U-Store-It Trust sets price for its IPO". United Press International. October 7, 2004.
^ "U-Store-It Self-Storage Changes Corporate Headquarters". Inside Self Storage. Informa. December 17, 2008.
^ "U-Store-It Is Becoming CubeSmart(SM)" (Press release). Globe Newswire. September 6, 2011.
^ "CubeSmart Announces Closing of the Storage West Acquisition" (Press release). GlobeNewswire. December 9, 2021.