Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired Augusta Ranch Self Storage in Mesa, Ariz.
“We're excited to build our own growing brand here," said H. Michael Schwartz, chairman and CEO. "This newer class-A storage property is well-located next to a large intersection in Mesa and provides convenient access to its latest generation amenities."
The 570-unit facility was developed in 2002 and contains 75,600 net rentable square feet in six single-story buildings on 4.62 acres. The facility, which has an occupancy of 81 percent, will be renamed under Strategic Storage's SmartStop Self Storage brand. It features drive-up units, interior climate-control units, RV/boat parking, a large retail office and a truck rental dealership.
The property is located 20 miles east of the Phoenix Sky Harbor International airport in the south eastern portion of metro Phoenix.