Strategic Storage Growth Trust, Inc. (SSGT), which is sponsored by SmartStop Asset Management, LLC, recently closed on its first “certificate of occupancy” transaction. The newly- constructed facility is located in the South Mountain Village area of Phoenix.
“We are excited to complete our first top-of-the-line, brand-new facility in a prime market like Phoenix,” said H. Michael Schwartz, chairman and CEO of SSGT. “We are already receiving a high degree of interest from local customers, so we expect our opening to be a huge success.”
The developer, Phoenix-based Glacier Development, built the two-story facility totaling approximately 94,000 net rentable square feet. SSGT will lease up the approximately 840 unit self storage facility. Located at 1500 East Baseline Rd, the new building will be 80% climate-controlled and also offers drive-up units and covered RV spaces.
“This newly built facility will provide Class A storage to the growing retail and residential community surrounding the site,” said SSGT’s Chief Investment Officer, Wayne Johnson.
South Mountain Village is one of fourteen planning areas as designated by the Phoenix City Council. It is geographically bordered by The Salt River to the North, South Mountain Park to the South, 27th Avenue to the West, and 48th Street to the East. Significant employment centers are located just north of the Village, including Downtown Phoenix and Sky Harbor International Airport.