In an all-cash transaction, Strategic Storage Trust Inc., a publicly registered, non-traded real estate investment trust targeting the self-storage market, acquired a 280-unit self-storage facility in Gulf Breeze, Fla., for $1.23 million. The company paid cash for the purchase price and paid an acquisition fee to an advisor of $30,625.
The property located was developed in 2004-2005 and contains approximately 39,750 net rentable square feet on 3.45 acres. It is 12 miles southeast of Pensacola, Fla., near Eglin Air Force Base and the Pensacola Naval Air Station.
Strategic Storage Trust owns three other self-storage facilities in Florida.
"This acquisition is an opportunity to complement our existing nearby facility with the addition of large drive-up units, boat and RV parking and truck rentals," said H. Michael Schwartz, chairman and CEO.