Strategic Storage Trust, Inc. (SSTI) – a publicly registered self-storage REIT – recently acquired a 480-unit facility, located on West Chandler Boulevard in Chandler, Ariz., for approximately $4.9 million. The approximately 51,000 net rentable square foot facility will be re-branded under the SmartStop® Self Storage trade name.
“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.
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.
In addition to the Chandler facility, SSTI’s Arizona portfolio includes four other self-storage properties, which total approximately 294,900 NRSF and 2,455 units. This portfolio includes:
· Missouri Avenue in Phoenix (525 units, 40,300 NRSF )
· Washington Street in Phoenix (450 units, 56,500 NRSF)
· Guadalupe Road in Mesa (560 units, 74,700 NRSF)
· Broadway Road in Tempe (440 units, 72,400 NRSF)