480-Unit Lone Star State Self-Storage Facility Changes Hands
- Nov 23, 2017
Strategic Storage Trust IV Inc., sponsored by SmartStop Asset Management LLC., has acquired a 480-unit, Class A self-storage facility in Texas City, Texas. The property is 95 percent leased.
Strategically located at 3730 Emmett F. Lowry Expressway, the facility is exposed to a major transit corridor in the area and provides access to Houston via Interstate 45. Constructed in 2010, the self-storage building totaling 80,000 square feet occupies 3.17 acres and features an additional 7.3-acre parcel which allows for further expansion. Other amenities include climate-controlled units, drive-up access, parking, security cameras, on site manager and truck rental options.
“This acquisition aligns perfectly with Strategic Storage Trust IV’s investment strategy to acquire a portfolio of stabilized self-storage properties mixed with value-add options that provide growth opportunities,” said Michael Schwartz, chairman & executive officer of Strategic Storage Trust IV, in prepared remarks.
Image courtesy of Yardi Matrix