Strategic Storage Trust Acquires in Vegas

Following their recent acquisition on Russell Road, Strategic Storage Trust, Inc. (SSGT) has acquired a 1,040-unit facility located on 4349 South Jones Blvd for a purchase price of $6.1 million.

The private REIT’s latest acquisition is a four building facility consisting of self-storage buildings and one manager’s apartment, which will be re-branded under the name of self-storage company, SmartStop® Self Storage.

With 92,000 net rentable square feet and a 55% occupancy rate, the property consists of several amenities such as drive-up access at the ground level as well as climate control units.

The acquisition adds to SSTI’s Las Vegas portfolio, which currently features eight other self-storage facilities all within a 15 mile radius.

Wayne Johnson, SVP of acquisitions for SSGT, commented, “The Las Vegas facility is located in a strong traffic corridor between Flamingo Road and Tropicana Avenue in a market where SmartStop has a strong footprint,” He adds, “This acquisition adds another high quality, infill location to our growing Las Vegas portfolio. We look forward to significantly expanding occupancy through our SmartStop brand of management.”

Strategic Storage Trust, Inc. is a private REIT with 3,000 self storage units and 352,000 rentable square feet branded under the SmartStop® Self Storage name.