Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, recently acquired a downtown Las Vegas self-storage property totaling approximately 540 units for $6.8 million.
The site will be rebranded under the SmartStop Self Storage trade name. This is the companys fourth self-storage purchase in Las Vegas.
This adds significantly to our Las Vegas portfolio, which is ripe to take advantage of high growth for the market over the long term, said CEO H. Michael Schwartz.
The property, located at 1120 South Las Vegas Blvd., contains approximately 81,600 rentable square feet on approximately 1.7 acres of land. Its in downtown Las Vegas, about one mile south of central Las Vegas. Built in 1996, it consists of two three-story buildings. Amenities include surveillance cameras, individual locks, climate control, keypad entry and a retail rental office.