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Strategic Storage Trust IV Buys 820-Unit Self Storage Facility Near Tampa

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased an approximately 820-unit self storage facility located in the Tampa suburb of Plant City, Florida.

Strategic Storage Trust IV Inc., a publicly registered non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased an approximately 820-unit self storage facility located in the Tampa suburb of Plant City, Florida. The purchase price was approximately $14.5 million, plus closing and acquisition costs.

“This facility is strategically located along U.S. Highway 92, the region’s primary transportation corridor, and is adjacent to entertainment and retail amenities including Plant City Stadium and Plant City Plaza,” said Wayne Johnson, chief investment officer. “This facility is well-aligned with our investment criteria and we believe it will be a strong addition to Strategic Storage Trust IV’s rapidly growing portfolio.”

Constructed in 2004 and expanded in 2017 and 2018, the facility is comprised of approximately 110,000 net rentable square feet and is situated on 16.2 acres of land.

The facility includes climate-controlled units; covered RV, auto and boat storage; computerized gate and lobby access; drive-up access; fencing and lighting; ground-level storage units; individually alarmed units; tenant insurance; video surveillance; personal access hours; long-term self storage units; free to reserve units; overhead lighting; and moving carts.

Strategic Storage Trust IV invests in stabilized and growth self storage properties and owns 15 properties comprising approximately 9,000 self storage units, as well as two parcels of land under development. The REIT’s offering was declared effective by the SEC in March 2017 and has raised $101.3 million in investor equity, as of November 9, 2018.

For more Strategic Storage Trust IV news, please visit their directory page here.