Strategic Storage Trust Buys Second Hampton, VA, Self-Storage Facility

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Strategic Storage Trust Inc., a publicly registered non-traded self-storage real estate investment trust, recently purchased AAAA Self Storage Big Bethel in Hampton, Va., for $6.7 million. The purchase is the company’s second in this market. In 2011, it bought a two-story, 70,175-square-foot facility at 815 Lasalle Ave., also in Hampton. Both facilities are near Norfolk Naval Base.

The newest acquisition, 1343 Big Bethel Road, was built in 2007. The single-story, four-building facility encompasses 71,500 rentable square feet in 500 units. It was previously managed by AAAA Self Storage Management Group (The Nicholson Cos.). It will be rebranded as SmartStop Self Storage.

“We acquired this facility for its newer construction and due to the growing military market in Hampton,” said H. Michael Schwartz, chairman and CEO. “This acquisition is a perfect complement to our other multi-story self-storage building five miles away.”

Strategic Storage Trust’s Virginia portfolio includes roughly 415,000 square feet of storage and 3,800 units. In addition to the two locations in Hampton, the company operates facilities in Chantilly, Fredericksburg, Manassas and Sandston.

The seller was represented by Stuart Wade, director of business development for The Nicholson Cos. and the Maryland/Virginia broker affiliate for the for the Argus Self Storage Sales Network, a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.

Founded in 1972 in Norfolk, Va., AAAA Self Storage Management owns or manages more than 45 facilities in the Southeast. The company’s services include staff training and evaluation, facility audits, consulting, facility startups, due-diligence inspections and valuations, brokerage, marketing, and more.

Launched in 2008, Strategic Storage Trust’s portfolio of wholly-owned properties includes 122 properties in 17 states and Canada. The portfolio includes approximately 77,000 self-storage units and 10.2 million rentable square feet of storage space.

Strategic Storage Trust Inc., a publicly registered non-traded self-storage real estate investment trust, recently purchased AAAA Self Storage Big Bethel in Hampton, Va., for $6.7 million. The purchase is the company’s second in this market. In 2011, it bought a two-story, 70,175-square-foot facility at 815 Lasalle Ave., also in Hampton. Both facilities are near Norfolk Naval Base.

The newest acquisition, 1343 Big Bethel Road, was built in 2007. The single-story, four-building facility encompasses 71,500 rentable square feet in 500 units. It was previously managed by AAAA Self Storage Management Group (The Nicholson Cos.). It will be rebranded as SmartStop Self Storage.

“We acquired this facility for its newer construction and due to the growing military market in Hampton,” said H. Michael Schwartz, chairman and CEO. “This acquisition is a perfect complement to our other multi-story self-storage building five miles away.”

Strategic Storage Trust’s Virginia portfolio includes roughly 415,000 square feet of storage and 3,800 units. In addition to the two locations in Hampton, the company operates facilities in Chantilly, Fredericksburg, Manassas and Sandston.

The seller was represented by Stuart Wade, director of business development for The Nicholson Cos. and the Maryland/Virginia broker affiliate for the for the Argus Self Storage Sales Network, a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.

Founded in 1972 in Norfolk, Va., AAAA Self Storage Management owns or manages more than 45 facilities in the Southeast. The company’s services include staff training and evaluation, facility audits, consulting, facility startups, due-diligence inspections and valuations, brokerage, marketing, and more.

Launched in 2008, Strategic Storage Trust’s portfolio of wholly-owned properties includes 122 properties in 17 states and Canada. The portfolio includes approximately 77,000 self-storage units and 10.2 million rentable square feet of storage space.

Smartstop-self-storage-virginia***

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