J.M. Feeney arranges $5.3 million financing for Extra Space Storage

John Feeney, principal of J.M. Feeney & Associates, has arranged permanent financing in the amount of $5.3 million for 36 Pope's Lane. 36 Pope's Lane is located at Rte. 1 and 114 off I-95. The 4-story, 120,000 s/f facility contains 947 self-storage units ranging in size from 15 to 2,750 s/f. Constructed of steel and composite concrete with stucco and masonry block façade, the structure has a fully adhered rubber membrane roof, 3- phase, 1,200-amp electrical system and a full wet sprinkler fire system. Additionally, the facility contains three elevators, three loading docks, and a security system. Each floor boasts its own HVAC system and the entire building is climate controlled. Interior finishes include a terrazzo stone and stainless steel lobby with glass curtain wall and 6,000 s/f of office space. The facility is extensively landscaped and provides a motorized entrance gate with keypad access. The first floor consists of a customer waiting and sales area, an employee office/break room, mechanical rooms, the main lobby, an interior loading/unloading area, and storage units. A paved area running along the front of the building is marked for nine parking spaces, five of which are dedicated spaces that back up to the lobby doors. The paved area extends along the front of the building and is used for loading and unloading vehicles at both the lobby doors and at three overhead doors that provide direct access to an interior loading area equipped with a freight elevator. The upper floors are accessible via two side stairways and three elevators. 36 Popes Lane is one of the most visible and accessible storage building in the metropolitan Boston area, easily accessible to and from all points in greater Boston. 36 Popes Lane is professionally operated and managed by Extra Space Storage Inc., one of the largest operators of self-storage in the U.S. and a national owner, developer, acquirer, and operator of professionally managed self-storage properties.