SSGT Adds another Self-Storage Facility to Its San Antonio Portfolio
- Jan 11, 2016
By Anca Gagiuc, Associate Editor
San Antonio, Texas—Strategic Storage Growth Trust, Inc. (SSGT) recently announced the acquisition of a self-storage facility. The REIT is sponsored by SmartStop Asset Management LLC. The seller was undisclosed, but the transaction’s price tag was approximately $12.3 million.
“The property is located in the fast re-developing area around the historic Pearl Brewery with significant multifamily development underway,” said Wayne Johnson, CIO of SSGT, “We look forward to providing our services to this active community.”
The facility is located at 875 East Ashby Place and consists of approximately 385 self-storage units and approximately 49,250 net rentable square feet of storage space. Moreover, the property includes approximately 5,800 net rentable square feet of cold storage space, circa 8,300 net rentable square feet of office, and approximately 9,000 net rentable square feet of “flex” warehouse space.
“We are pleased with our continued acquisition growth and our ability to find high quality self-storage properties with strong growth potential,” said Michael Schwartz, chairman & CEO of SSGT.
Image courtesy of self-storage.com