LADERA RANCH, Calif .– (BUSINESS WIRE) – Aug. August 2021–
Strategic Storage Trust VI, Inc. (“SST VI”), a private real estate investment trust sponsored by a subsidiary of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of a self storage facility with approximately 665 units known facility in Surprise, Arizona. The property was completed in 2017 and around 87% of the property was let at the time of acquisition. This is the fourth acquisition in the newly established SST VI and the sixth property owned or managed by Smartstop in the Phoenix market.
The two-story facility is located at 11658 W. Bell Rd and consists of approximately 72,800 square meters of rental space in a mixture of 665 air-conditioned and non-climate-controlled units. This location is well positioned to serve the Fletcher Heights, Arrowhead Ranch, Sun City, Youngtown, El Mirage and Sun City West areas. It is easily accessible from US Route 60 and Arizona State Route 101, with good visibility from W. Bell Road. The new SmartStop® self-storage location has desirable amenities, including a sophisticated security system, secured and alarmed doors, entrance gate, drive-up units on the ground floor and air-conditioned indoor units with spacious elevators for units on the second level.
“Surprise is a dense, established community in Phoenix that is experiencing very rapid population growth,” said Wayne Johnson, chief investment officer of SST VI. “We expect this system, which represents the latest generation of self-storage products well, to do very well in a sub-market that consists mainly of older generation systems. We are very pleased to be able to include this high-quality property in our portfolio at SST VI. “
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a Maryland corporation intending to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in high yielding and growing self storage facilities and related self storage real estate investments in the United States and Canada.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop also sponsors other self-storage programs through its indirect subsidiary, SmartStop REIT Advisors, LLC. SmartStop is one of the largest self-storage companies in North America with approximately $ 1.8 billion in real estate assets under management, including a owned and managed portfolio of 157 properties in 19 states and Ontario, Canada that is approximately feet. SmartStop and its affiliates own or manage 18 operational self-storage properties in the greater Toronto area, totaling approximately 15,200 units and 1.6 million square feet of lettable space. You can find more information about SmartStop at www.smartstopselfstorage.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210826005790/en/
CONTACT: David Corak
Vice President for Corporate Finance
SmartStop Self Storage REIT, Inc.
949-429-3331
IR@smartstop.com
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA ARIZONA
INDUSTRY KEYWORD: COMMERCIAL & REAL ESTATE & REAL ESTATE OTHER RETAIL FINANCE SPECIALTIES PROFESSIONAL SERVICES REIT RETAIL
SOURCE: Strategic Storage Trust VI, Inc.
Copyright Business Wire 2021.
PUB: 8/26/2021 6:30 p.m. / DISC: 8/26/2021 6:32 p.m.
http://www.businesswire.com/news/home/20210826005790/en
Copyright Business Wire 2021.
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