U-Haul Buys 145,000-SF Data Facility

WASHINGTON, DC-A 145,000-sf data facility has a new owner with U-Haul International affiliate Five-Sac’s recent $6.2-million acquisition of the property. Located at 1501 N. Capitol St. in the District’s southwest area, the structure was sold by the Washington Real Estate Investment Trust, which had owned it for 28 years. U-Haul, relying on Cushman & Wakefield as representation in the transaction, will use the space as a self-storage and truck and trailer rental facility.

Speaking to GlobeSt.com, Cushman & Wakefield’s Jim Mullen says the company’s officials “were in the market for good opportunities for self-storage and truck rental facilities, and we’ve had our eye on the center for a year.” Cushman recently assisted the company in the purchase of another property in Landover, Maryland for $3.2 million. “We came in with a very aggressive offer,” Mullen adds of the DC deal. “[U-Haul] liked the space because of the future potential of the site and the great size. This was an excellent opportunity to buy the right building at the right price.”