SmartStop Asset Management LLC, a diversified real estate company that manages 86 self-storage facilities in Canada and the United States, has hired John Strockis as senior vice president of acquisitions. Strockis is a senior real estate executive with extensive experience in acquisitions, asset management, business development and brokerage leadership. He’ll be responsible for leveraging SmartStop’s existing platform and relationships to expand its real estate product offerings.
“John is a dynamic leader with an extensive network and business development experience,” said H. Michael Schwartz, CEO and chairman. “He will launch SmartStop’s 1031 exchange offerings to help us diversify our commercial property opportunities.”
Strockis will head a new division actively seeking commercial properties in industrial, multi-family, medical/healthcare, office and retail for property exchanges under Section 1031 of the U.S. Revenue Code, which states that certain properties can defer capital gains taxes.
“The market is good, and it’s a very opportunistic time for us to expand our product offerings to the 1031 exchange market,” Strockis said. “I’m excited to be connected with H. Michael Schwartz, a respected and prolific real estate capital markets professional. This is an incredible opportunity to leverage his success on the storage side.”
Strockis previously worked for the Los Angeles division of CB Richard Ellis & CBRE Investors, a full-service real estate company, from 1984 until 2008, as a broker, sales manager, managing director and senior director of acquisitions. In 1999 and 2000, he received the company’s James Didion Leadership Award for “Most Outstanding Manager.” Strockis also served as executive managing director for Voit Real Estate Services in Newport Beach, Calif.; chief executive officer for MarWest Commercial; and executive managing director for Real Estate Services Co. He has a bachelor’s degree in economics from the University of California, Los Angeles.
The SmartStop portfolio includes 6.2 million rentable square feet of storage space in approximately 57,100 units. The company is the sponsor of Strategic Storage Growth Trust Inc., a public, non-traded real estate investment trust (REIT) focused on self-storage acquisition and development, and Strategic Storage Trust II Inc., a public non-traded REIT that focuses on stabilized self-storage properties.