Pair of Self-Storage REITs Acquire Portfolio for $145 Million
Two non-traded REITs affiliated with SmartStop Self Storage recently acquired a significant chunk of a previously announced portfolio transaction. Made up of 18,000 units and 1.9 million net rentable square feet, the 32 properties cost $145 million.
The two REITs, Strategic Storage Trust II, Inc. and Strategic Growth Trust, Inc., recently acquired 27 of the 32 facilities.
“We are proud to say that this major portfolio acquisition is our largest transaction we have closed to date,” said H. Michael Schwartz, SmartStop’s chairman and CEO. “This acquisition will increase our footprint in new markets such as Colorado, Michigan, Washington and Washington DC. in addition to fueling our ongoing expansion throughout the United States.”
The facilities benefit from visibility and traffic flow with most located near regional retailers. All provide grade level drive-up and climate control units.
Details for the portfolio are below:
Los Angeles Metropolitan Statistical Area (MSA)
- 7211 Arlington Ave., Riverside: 610 units, 60,100 square feet.
- 6667 Van Buren Blvd., Riverside: 570 units, 61,000 square feet.
- 1111 W. Gladstone Street, Azusa: 660 units, 64,400 square feet.
- 10231 S. Colima Rd., Whittier: 510 units, 58,600 square feet.
- 2234 Arrow Hwy., La Verne: 520 units, 49,800 square feet.
- 7611 Talbert Ave., Huntington Beach: 610 units, 61,000 square feet.
- 580 East Lambert Rd., La Habra: 420 units, 51,400 square feet.
- 43745 Sierra Hwy., Lancaster: 700 units, 64,700 square feet.
- 517 N. 8th St., Lompoc: 430 units, 46,500 square feet.
- 404 Potrero Grande, Monterey Park: 390 units, 31,200 square feet.
- 4200 Westminster Ave., Santa Ana: 840 units, 84,500 square feet.
- 1571 W. Foothill Blvd.; Upland: 610 units, 56,500 square feet.
San Francisco MSA
- 1401 Enterprise St., Vallejo: 510 units, 54,400 square feet.
- 3937 Santa Rosa Ave., Santa Rosa: 1,150 units, 116,400 square feet.
- 2998 Rockville Rd., Fairfield: 440 units, 41,000 square feet.
Sacramento MSA
- 7760 Lorraine Ave., Stockton: 560 units, 49,100 square feet.
- 3860 Benetar Way, Chico: 360 units, 38,800 square feet.
Seattle MSA
- 10919 Evergreen Way, Everett: 490 units, 48,100 square feet.
Colorado Springs MSA
- 3850 Airport Rd., Colorado Springs: 680 units, 61,800 square feet.
Denver MSA
- 435 Airport Blvd., Aurora: 890 units, 87,400 square feet.
- 8920 Federal Blvd., Federal Heights: 450 units, 40,600 square feet.
- 3757 Norwood Dr., Littleton: 400 units, 45,800 square feet.
Chicago MSA
- 1302 Marquette Dr., Romeoville: 680 units, 66,700 square feet.
- 1001 Toll Gate Rd., Elgin: 410 units, 49,600 square feet.
- 240 W. Army Trail Rd., Bloomingdale: 570 units, 58,200 square feet.
- 4747 W. Calumet-Sag Rd., Crestwood: 460 units, 49,300 square feet.
Detroit MSA
- 42557 Van Dyke Ave., Sterling Heights: 460 units, 57,900 square feet.
- 262 East Maple Rd., Troy: 730 units, 82,200 square feet.
- 27203 Groesbeck Hwy, Warren: 500 units, 63,100 square feet.
- 24623 Ryan Rd., Warren: 490 units, 52,100 square feet.
Philadelphia MSA
- 4233 Route 130 S., Beverly, NJ: 460 units, 51,000 square feet.
Washington DC MSA
- 4100 Forestville Rd., Forestville, MD: 530 units, 55,200 square feet.