# LocalStorage Springfield Bought the 197-Unit CubeSmart on Vermont Route 106 With Room to Add 16,800 Square Feet in October 2026 > Washington Street's LocalStorage Group adds a northern New England infill box with documented expansion paper, continuing the platform build that began with a $98 million SROA portfolio in Q1 2026. - URL: https://www.yourcaio.co/news/localstorage-springfield-vermont-cubesmart-acquisition-october-2026 - Published: 2026-10-16 - Author: David Cartolano (https://www.yourcaio.co/about) - Category: Acquisitions - Tags: LocalStorage Group, Vermont, CubeSmart, Marcus & Millichap, Expansion Entitlements - Source: [Inside Self-Storage](https://www.insideselfstorage.com/self-storage-investing-real-estate/self-storage-real-estate-acquisitions-and-sales-october-2026) ## Key Takeaways - Inside Self-Storage's October 2026 acquisitions roundup reports LocalStorage Springfield purchased the CubeSmart facility at 93 Vermont State Route 106 in North Springfield, Vermont, with 27,025 net rentable square feet in 197 drive-up units. - A proposed expansion plan would add 16,800 net rentable square feet to the site, giving the buyer growth paper beyond the stabilized cube count. - Marcus & Millichap brokers Gabriel Coe, Nathan Coe, Luke Dawley, and Brett Hatcher of The Hatcher Coe Group represented the undisclosed seller, per Inside Self-Storage. - The trade extends the LocalStorage Group platform built by Washington Street Investment Partners, which paid $98 million for a 15-property SROA Capital portfolio in Q1 2026, per [prior coverage](https://www.yourcaio.co/news/sroa-capital-washington-street-self-storage-portfolio-sale-2026). - The Vermont buy lands the same month [Public Storage recycled Colorado iBox and US Storage Centers assets](https://www.yourcaio.co/news/public-storage-colorado-ibox-aurora-fort-collins-october-2026), showing REIT dispositions still feeding regional and specialty buyers even as national advertised rates fell 1.9% year over year in August 2026. **LocalStorage Springfield** acquired the **CubeSmart**-branded facility at **93 Vermont State Route 106** in **North Springfield, Vermont**, in a trade documented in **Inside Self-Storage's October 2026** acquisitions roundup. The site totals **27,025 net rentable square feet** in **197 drive-up units**, with a **proposed expansion of 16,800 net rentable square feet** on the table. **Marcus & Millichap's** Hatcher Coe Group represented the seller. The buyer is the latest add-on for **Washington Street Investment Partners'** LocalStorage Group platform after its **$98 million**, **15-property** SROA Capital purchase in **Q1 2026**. --- ## What Changed Hands on Vermont Route 106? Inside Self-Storage lists October 2026 brokered sales in batches. The Vermont line item is compact but complete: | Field | Detail (Inside Self-Storage, Oct. 2026) | |-------|----------------------------------------| | Buyer | LocalStorage Springfield | | Prior brand | CubeSmart | | Address | 93 Vermont State Route 106, North Springfield, VT | | Size | 27,025 NRSF | | Units | 197 drive-up | | Expansion | +16,800 NRSF proposed | | Broker | M&M Hatcher Coe Group (seller rep) | Purchase price was not disclosed in the ISS summary. Buyers underwriting northern New England infill typically model against low supply pipelines and winter-sensitive operating costs rather than Sun Belt lease-up curves. The facility sits on **VT-106** with access hours commonly marketed as **6 a.m. to 10 p.m.** daily, with gated entry and drive-up loading. That product type fits the LocalStorage Group's secondary-market playbook: straightforward drive-up cash flow with room to add climate-controlled or enclosed square footage if the **16,800 SF** plan advances. --- ## Why Would LocalStorage Expand Into Vermont Now? **Washington Street** did not buy a trophy coastal asset. It bought **expansion optionality** on a state highway corridor **minutes from Interstate 91 exit 7**, in a state with limited new self-storage entitlements compared with Texas or Florida greenfield corridors. The platform logic chains back to March 2026: - **SROA Capital** sold **15 properties** (**832,000 SF**, **6,600 units**, **90% occupancy**) for **$98 million** to Washington Street, per [Inside Self-Storage and JLL coverage](https://www.yourcaio.co/news/sroa-capital-washington-street-self-storage-portfolio-sale-2026). - **Kentucky**, **South Carolina**, and **Florida** gave scale in warm-climate markets. - **Vermont** adds a northern node with **REIT-sourced** real estate and documented growth paper. Operators chasing only Sun Belt population growth miss this trade. LocalStorage is assembling **multi-region density** under one brand and call center, the same strategy [Marcus & Millichap's September outlook](https://www.yourcaio.co/news/marcus-millichap-us-self-storage-outlook-vacancy-development-slows-september-2026) said mid-market buyers use when institutional portfolios trade below 2022 peaks. --- ## How Does a CubeSmart Disposition Fit the 2026 Seller Map? **CubeSmart** remains a net acquirer in many markets, but REITs constantly recycle non-core sites. A **197-unit** drive-up in rural Vermont is exactly the asset that can fall off a **1,534-property** U.S. footprint while still appealing to a **regional platform** that wants highway visibility without building from dirt. October 2026 is busy on the REIT sell side elsewhere: - **[Public Storage bought Colorado iBox and Fort Collins US Storage Centers assets](https://www.yourcaio.co/news/public-storage-colorado-ibox-aurora-fort-collins-october-2026)** through Argus brokers. - **Vermont** runs the opposite direction: **CubeSmart** out, **LocalStorage** in. Both stories reinforce the same point: **national operators optimize portfolios**; **regional platforms harvest clusters**. The Vermont trade is smaller dollars than [North Palisade's El Monte buy](https://www.yourcaio.co/news/north-palisade-el-monte-stor-it-now-valley-boulevard-october-2026), but the operating playbook rhymes: buy infill, rebrand, improve, expand if entitlements allow. --- ## What Should Competitors Do in the Springfield Trade Area? **Rate surveys** along **VT-106** and **I-91** should start now. Rebrands often bring marketing bursts and web-rate resets even when in-place tenants stay on legacy pricing. **Expansion monitoring** matters. **16,800 SF** of new supply on an existing pad changes competitive radius math without a multi-year entitlement fight. Track planning board agendas in **Springfield** and **Weathersfield** if the project crosses municipal lines. **Broker relationships** with **Marcus & Millichap's** Hatcher Coe Group are paying off for sellers in October: the same shop marketed [Houston Devon portfolios](https://www.yourcaio.co/news/marcus-millichap-houston-devon-portfolio-76-percent-occupancy-september-2026) and Wisconsin **UpLift** sales in September. Vermont shows the desk still closes northern New England assets. --- ## The Numbers Worth Writing Down - **27,025 NRSF** existing; **197** drive-up units - **+16,800 NRSF** proposed expansion (Inside Self-Storage) - **93 Vermont State Route 106**, North Springfield, VT - Seller represented by **M&M Hatcher Coe Group** (Coe, Dawley, Hatcher) - LocalStorage platform: **$98M / 15 properties / 832,000 SF** SROA buy (Q1 2026) - National advertised rates **-1.9% YoY** (August 2026, Yardi Matrix) --- ## Small Markets, Big Platform Math **LocalStorage Springfield** will not move **CubeSmart's** earnings call. It will move **Washington Street's** operating map: another dot on the route between **Florida** sun and **Vermont** snow, with **16,800 square feet** of upside still on paper. That is how 2026 acquisitions work when headline rates are soft: buy **REIT leftovers** with **expansion attached**, stack them on a **$98 million** foundation, and run one brand across states that never shared a market before. --- ## Sources - [Self-Storage Real Estate Acquisitions and Sales: October 2026](https://www.insideselfstorage.com/self-storage-investing-real-estate/self-storage-real-estate-acquisitions-and-sales-october-2026), Inside Self-Storage, October 8, 2026 - [Washington Street Buys SROA Portfolio](https://www.yourcaio.co/news/sroa-capital-washington-street-self-storage-portfolio-sale-2026), Your CAIO - [Public Storage Colorado iBox and Fort Collins Acquisitions](https://www.yourcaio.co/news/public-storage-colorado-ibox-aurora-fort-collins-october-2026), Your CAIO ## Frequently Asked Questions ### Who bought the CubeSmart property in North Springfield, Vermont? LocalStorage Springfield acquired the facility at 93 Vermont State Route 106, per Inside Self-Storage's October 2026 acquisitions report. The buyer is part of the LocalStorage Group operated by Washington Street Investment Partners, which expanded aggressively after a $98 million SROA Capital portfolio purchase in Q1 2026. ### How large is the Springfield, Vermont, self-storage facility? The property comprises 27,025 net rentable square feet configured into 197 drive-up units, per Inside Self-Storage. Marketing materials list the address as 93 Vermont 106, Springfield, VT 05150, along the VT-106 corridor north of downtown Springfield. ### Is there expansion planned at LocalStorage Springfield? Yes. Inside Self-Storage reports a proposed expansion plan would add 16,800 net rentable square feet. That entitlement or design capacity is a key part of the investment thesis for buyers paying for infill sites where new greenfield storage is difficult to permit. ### Who brokered the Vermont CubeSmart sale? Marcus & Millichap's The Hatcher Coe Group represented the seller. Gabriel Coe and Nathan Coe served as senior managing directors of investments; Luke Dawley was director of investments; Brett Hatcher was executive managing director of investments, per Inside Self-Storage's October 2026 roundup. ### How does this deal compare with other October 2026 REIT-to-buyer trades? CubeSmart's Vermont asset moved to a growing regional platform rather than another REIT, similar in spirit to [The Lock Up's Extra Space buy in Roseville, Minnesota](https://www.yourcaio.co/news/lock-up-roseville-extra-space-13-2-million-minnesota-october-2026). Both are single-asset trades where the seller is a national brand and the buyer is building clustered operational scale. --- Cite as: David Cartolano, "LocalStorage Springfield Bought the 197-Unit CubeSmart on Vermont Route 106 With Room to Add 16,800 Square Feet in October 2026," YourCAIO.co, 2026-10-16, https://www.yourcaio.co/news/localstorage-springfield-vermont-cubesmart-acquisition-october-2026