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Strategic Storage Growth Trust III Acquires Florida Self-Storage Facility

Strategic Storage Growth Trust III Inc., a Regulation D private placement fund that intends to qualify as a real estate investment trust, announced the acquisition of an approximately 78,000-square-foot storage facility located at 18301 N. Tamiami Trail in North Fort Myers, Florida.

The property consists of approximately 780 interior, climate-controlled storage units.

Initially constructed in 1955 as a single-tenant industrial warehouse, the company says the facility was converted to storage in October 2022. The single-building, single-story property is located along N. Tamiami Trail and sees approximately 33,000 vehicles passing by daily. Additionally, Strategic Storage says more than 3,500 housing starts are in the planning stages within three miles of the store’s location, making it an ideal location for the company’s acquisition strategy.

“We are thrilled to expand the SSGT III platform with this acquisition in North Fort Myers,” Wayne Johnson, chief investment officer, said. “This property is a great addition to our portfolio, providing high-quality storage units in a prime location with excellent visibility and access to the surrounding communities.”

Strategic Storage Growth Trust III, sponsored by an affiliate of SmartStop Self Storage REIT, primarily invests in growth-oriented self-storage facilities and related investments in the United States and Canada. As of March 9, 2023, the fund has a portfolio of four operating properties in the United States comprising approximately 3,700 units and 421,600 rentable square feet.

SmartStop Self Storage REIT is a self-managed REIT that oversees a portfolio of 183 properties in 22 states and Ontario, Canada, comprising approximately 127,600 units and 14.5 million rentable square feet.

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