Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired an approximately 1,040-unit self-storage facility in Davie, Fla., the company’s sixth acquisition in the Florida market. The site will be rebranded under the SmartStop Self Storage trade name.
The property, located at 3401 South State Road 7, contains approximately 122,700 rentable square feet on just over 8 acres. The 13 single-story buildings are less than three miles west of Fort Lauderdale-Hollywood International Airport (FLL) and Interstate 95, and less than a mile east of the Florida Turnpike.
The property includes a manager's office with a two-story residential apartment and climate-controlled and non-climate-controlled units. The occupancy is 78 percent.
Charles "Chico" LeClaire and Mike Mele of Marcus & Millichap Marcus & Millichap Real Estate Investment Services brokered the transaction.
Strategic Storage Trust Inc. currently owns four other self-storage facilities in Florida:
- 1396 Capital Circle N.E. in Tallahassee. The facility has 23 buildings with 1,550 units.
- 16400 State Road 84 in Weston. The four-story building has 650 units.
- 15 McClure Drive in Gulf Breeze. Includes eight single-story buildings with 700 units.
- 4761 Gulf Breeze Parkway in Gulf Breeze: The four single-story buildings have 290 units.
- 4950 N. Dixie Highway in Oakland Park: A four-story building with 1,600 units.
Since the launch of Strategic Storage Trust Inc. two years ago, the company’s portfolio of wholly-owned properties has expanded to include properties in 14 states. The company’s sponsor is Strategic Capital Holdings, which manages a growing portfolio of over 6.3 million square feet of commercial properties.