Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, recently acquired its fifth property in Las Vegas, totaling approximately 740 units. The purchase closes out the year in which the company accumulated $126 million in self-storage facilities across the United States and Canada.
"As with our other recent buy in downtown Las Vegas, this bolsters our presence in a market with great long-term potential," said CEO H. Michael Schwartz.
The new site will be rebranded under the SmartStop Self Storage trade name. Built in 2006, the two-story building contains 94,000 rentable square feet on approximately 3.2 acres of land. Its at the corner of Rancho Road and Texas Station, about five miles north of central Las Vegas and across the street from the Texas Station Casino.
"This is an in-fill class-A facility located on a primary north/south artery serving Las Vegas," said Wayne Johnson, senior vice president of acquisitions. "We know it will carry our brand well."