SmartStop Self Storage REIT Inc., a publicly registered non-traded real estate investment trust, has purchased a self-storage facility in the Denver suburb of Aurora, Colorado for an undisclosed price. This represents SmartStop’s 171st owned or managed operating facility in North America.
The 55,700-square-foot facility was built in 2018 and includes one single-story and one three-story building. The property has a mix of drive-up and interior climate-controlled units as well as other amenities including 24-hour video surveillance, keypad access and outdoor vehicle storage.
The facility is located at 7411 South Gartrell Road and serves the Saddle Rock Ridge, Tallyn’s Reach and Heritage Eagle Bend neighborhoods.
“This state-of-the-art facility is well situated in a high-growth residential environment and is complementary to our existing store located approximately half a mile away on Gartrell Road,” said Wayne Johnson, president and chief investment officer. “The area’s strong median household income and solid density, coupled with the brand recognition from SmartStop’s existing stores in the Denver market, make this a strong addition to the SmartStop portfolio.”
In other company news, SmartStop and Strategic Storage Growth Trust II Inc., an affiliated private REIT, recently completed a $280 million all-stock merger transaction.
SmartStop is a self-managed REIT that oversees a portfolio of 171 properties in 22 states and Ontario, Canada, comprising approximately 117,000 units and 13.3 million rentable square feet, as of June 28, 2022. SmartStop and its affiliates own or manage 19 operating self-storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet.