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Strategic Storage Trust Inc. has entered into agreements to buy 11 self-storage facilities in five states: Georgia, New Jersey, New York, Pennsylvania and Virginia. The company expects to close each of these acquisitions before the end of the second or third quarter of 2011.
May 18, 2011
1 Min Read
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust specializing in self-storage, has entered into agreements to buy 11 self-storage facilities in five states: Georgia, New Jersey, New York, Pennsylvania and Virginia. The company expects to close each of these acquisitions before the end of the second or third quarter of 2011.
Here are the facility locations and statistics:
Georgia
Peachtree City: $5.3 million, 670 units, 123,400 square feet
Buford: $2.5 million, 520 units, 68,900 square feet
Jonesboro: $2.4 million, 730 units, 106,400 square feet
Ellenwood: $2.3 million, 300 units, 40,700 square feet
Marietta: $2.6 million, 480 units, 61,200 square feet
New Jersey
Trenton: $7.6 million, 660 units, 85,100 square feet
New York
Ballston Spa: $5 million, 690 units, 82,800 square feet
Pennsylvania
Collegeville: $3 million, 540 units, 58,400 square feet
Skippack: $2.3 million, 390 units, 56,300 square feet
Virginia
Fredericksburg: $4.2 million, 630 units, 59,600 square feet
Sandston: $6.7 million, 680 units, 78,100 square feet
Once the acquisitions are final, Ladera Ranch, Calif.-based Strategic Storage Trust will have a total of 77 self-storage facilities in the United States and Canada. The facilities comprise approximately 50,590 units and approximately 6.2 million rentable square feet.
Sources:
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