Strategic Storage Trust, a non-traded self-storage real estate investment trust, has expanded it portfolio with the purchase of two self-storage facilities in Alpharetta and Marietta, Ga. The properties were purchased for a total of $9.6 million from Storage Partners of Alpharetta LLC and Storage Partners of Powers Ferry Road LLC, a joint venture with Fidelity Real Estate Group and United Storage of Philadelphia.
Constructed in 2006, United Storage of Marietta is a 51,926-square-foot facility with 506 climate-controlled units. United Storage of Alpharetta is a 76,233-square-foot facility with 662 units. It was built in 2002.
United Storage of Marietta (left) and United Storage of Alpharetta (right)
Wayne Johnson, senior vice president of acquisitions with Strategic Storage Trust, was represented by Charles “Chico” LeClaire, senior vice president of investments for the Marcus & Millichap Denver office, and Mike Mele, vice president of investments for the firm’s Tampa office. The brokers also listed the properties.
Strategic Storage Trust, launched in 2008, has increased its portfolio to include eight self-storage facilities in Florida, Georgia, Kentucky, Mississippi and Virginia. The company’s sponsor is Strategic Capital Holdings LLC (formerly U.S. Commercial LLC), which manages a growing portfolio of more than 5.3 million square feet of commercial properties, including 3.7 million square feet of self storage.
Marcus & Millichap is one of the nation’s largest real estate investment brokerage firms. The company has more than 60 offices and 1,300 investment professionals nationwide.