A Westborough property featuring a 119,994-square-foot self-storage building has sold for $12.35 million to a Brooklyn-based real estate investment firm.
Merit Hill Capital, a firm focused on investing in self-storage properties, purchased the site at 201 Flanders Road on Friday, according to the Worcester District Registry of Deeds.
Merit Hill Capital has raised $578.3 million for self-storage investments since 2025, purchasing 66 properties for $525.7 million and selling 62 properties in that timeframe, according to its website.
The two-story warehouse building was constructed in the 1970s and later converted into a self-storage facility, according to real estate data firm CoStar.Â
The property was sold by Burlington-based R.J. Kelly Co., which had purchased it for $4.9 million in 2018.
Formerly operated under R.J. Kelly’s Stor-U-Self brand, the facility is now operated by Utah-based Extra Space Storage.
The sale follows the $18-million sale of a Framingham self-storage facility in February.Â
Investment in self-storage sites surged in the immediate aftermath of the COVID-19 pandemic, reaching an all-time high of $13.5 billion in the fourth quarter of 2021, according to a 2025 market report from Chicago-based Cushman & Wakefield. Transaction volume has leveled off since, but investment interest in the sector remains high.
The Westborough parcel received a 2026 assessment of $8.54 million, according to municipal property records.Â
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.Â
