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4/01/14
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Strategic Storage Trust Inc (SSTI) recently acquired a 480-unit self-storage facility, located on West Chandler Blvd in Chandler, AZ, for approximately $4.9 mil ($10.2k/unit). The 51k sf facility will be re-branded under the SmartStop® Self Storage trade name.
The three-acre property includes six single-story self-storage buildings and a single-story retail office that offers a manager’s apartment. The SmartStop Self Storage West Chandler Blvd facility is currently 97 percent occupied.
“This facility is in a solid retail location, and adds to SSTI’s cluster of properties in Arizona, a growth market with excellent demographics,” said H. Michael Schwartz, chairman and CEO of SSTI, a publicly registered self-storage REIT.
In addition to the Chandler facility, SSTI’s Arizona portfolio includes four other self-storage properties, which total approximately 294.9k sf and 2,455 units. This portfolio includes:
• Missouri Avenue in Phoenix (525 units, 40.3k sf)
• Washington Street in Phoenix (450 units, 56.5k sf)
• Guadalupe Road in Mesa (560 units, 74.7k sf)
• Broadway Road in Tempe (440 units, 72.4k sf)
Since the launch of SSTI in 2008, the company’s portfolio of wholly-owned properties has expanded to include 124 properties in 17 states and Canada that are being branded as SmartStop® Self Storage. The portfolio includes approximately 78,000 self-storage units and 10.3 msf of storage space.
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