Strategic Storage Trust Acquires Third Las Vegas Self-Storage Facility

Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired a five-year-old self-storage complex in North Las Vegas from IBRAC LLC for $4.2 million. It will be rebranded SmartStop Self Storage.

Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired a five-year-old self-storage complex in North Las Vegas from IBRAC LLC for $4.2 million. It will be rebranded SmartStop Self Storage.

The 700-unit Storage One complex is located inside Simmons Marketplace and close to high-traffic retailers including Walmart, Albertsons and Fitness 19. The two-story complex is 94,000 square feet on 3.23 acres, and averages 93 percent occupancy. It features surveillance cameras, individual locks, climate control and keypad entry, and has 63 RV- and boat-parking spaces.

Strategic Storage Trust now owns 1,410 units in Nevada, including a 190-unit complex and 520-unit complex. Since its launch two-and-a-half years ago, Strategic Storage Trusts portfolio of wholly-owned properties has expanded to include 39 properties in 15 states.

Sources:

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish