Strategic Storage Trust Buys 11 Self-Storage Facilities for $44M
Copyright 2014 by Virgo Publishing.
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Posted on: 06/15/2011



 

Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired a portfolio of 11 properties for more than $44 million. The purchase totals approximately 6,300 units and 821,000 square feet. The facilities are in Georgia, New Jersey, New York, Pennsylvania and Virginia. The sites will be rebranded under the SmartStop Self Storage trade name.

“These properties will extend our growing brand from the Southeast, through the Mid-Atlantic and up to the Northeast,” said H. Michael Schwartz, chairman and CEO. “This vast portfolio also comes at a great value and increased economies of scale to Strategic Storage Trust and our stockholders.”

Property details:

Georgia

  • 201 Fulton Ct., Peachtree City: 670 units, 123,400 square feet
  • 4257 Buford Dr., Buford: 520 units, 68,900 square feet
  • 8337 Tara Blvd., Jonesboro: 730 units, 106,400 square feet
  • 5484 Flakes Mill Road, Ellenwood: 300 units, 40,700 square feet
  • 2619 Austell Road, Marietta: 480 units, 61,200 square feet

New Jersey

  • 3600 Quakerbridge Road, Trenton: 660 units, 85,100 square feet

New York

  • 75 Brookline Road, Ballston Spa: 690 units, 82,800 square feet

Pennsylvania

  • 99 2nd Ave., Collegeville: 540 units, 58,400 square feet
  • 4435 Skippack Pike, Skippack: 390 units, 56,300 square feet

Virginia

  • 5219 Plank Road, Fredericksburg: 630 units, 59,600 square feet
  • 520 W. Williamsburg Road, Sandston: 680 units, 78,100 square feet

“All of these properties are in well-trafficked locations with favorable market dynamics,” said Wayne Johnson, senior vice president of acquisitions.  “We expect these locations to represent Strategic Storage Trust as the industry’s best.”

Since the launch of Strategic Storage Trust Inc. in 2008, the company’s portfolio of wholly-owned properties has expanded to include 72 properties in 17 states and Canada.