PAWTUCKET – A self-storage facility at the former Southeastern Medical Center at 555 Prospect St. was recently sold to new operators for $14.2 million, according to public records documenting the transaction.
The brick, two-story building was sold by the Utah-based WSP II Pawtucket LLC, which is affiliated with the Extra Space Storage company that owned and renovated the property during the past two years.
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The 76,452-square-foot building was bought by SH 7012 LLC, which is based in Buffalo, N.Y., according to a copy of the quitclaim deed, a public record provided by the city. The Buffalo-based entity is affiliated with Life Storage, the self-storage company founded in 1982 with more than 1,100 other facilities across the country, including five others in Rhode Island.
Life Storage is now operating the 555 Prospect St. facility, offering rental units on its website starting at $43 per month.
Prior to Extra Space Storage coming in, the property was long known as Southeastern Medical Center, operated by Care New England Health System, containing a magnetic imaging center and the offices of several medical groups. Before it was renovated into a self-storage facility, the hospital company sold the property in 2020 for $1.5 million, according to city records.
The commercial industrial building and the 4.77-acre lot it stands on were most recently valued by Pawtucket assessors in 2021 as being worth $2.7 million, according to the city’s online property evaluation database.
The brick building was constructed in 1950, according to city records.
Marc Larocque is a PBN contributing writer.
