06 Nov 2020
LADERA RANCH, Calif., Nov. 3, 2020 /PRNewswire/ -- Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. ("Smartstop"), announced today its acquisition of a newly constructed, 950-unit self storage facility in Las Vegas, Nevada. This property represents SSGT II's first acquisition in Las Vegas and the ninth property owned or managed by Smartstop in the Las Vegas market.
"This facility benefits from its strategic location at the intersection of Durango Drive and Russell Road as well as its proximity to State Route 215. There is significant multi-family and residential growth in the immediate trade area that will be a benefit to the property," said Wayne Johnson, chief investment officer. "We are pleased to further strengthen our portfolio of premier self storage facilities with the addition of this newly constructed, well-located facility."
Located at 5730 S. Durango Drive just south of the Spanish Trail Golf Course, the state-of-the-art air cooled facility is composed of approximately 99,300 square feet of rental space. This location is well positioned to serve the areas of Spring Valley, Rhodes Ranch, South Summerlin, West Sahara, and Sovana. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system with high definition camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground floor drive up units, interior climate-controlled units with two easily accessible large capacity elevators and covered exterior parking for RV/boats. More detail on the facility can be found here.
SSGT II is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSGT II focuses on opportunistic self storage industry properties. SSGT II wholly owns 9 self storage facilities comprising approximately 7,000 self storage units and 730,000 net rentable square feet of storage space, as well as one operating property in a joint venture in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 390 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.7 billion of real estate assets under management, including an owned and managed portfolio of 147 properties in 19 states and Toronto, Canada and comprising approximately 98,000 units and 11.2 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Thumbnail: Photo by Ryan Hafey on Unsplash
