SST II Acquires 11 Self-Storage Facilities in NC
- Jan 12, 2017
Asheville, N.C.—Strategic Storage Trust II Inc., sponsored by SmartStop Asset Management LLC, has purchased 11 self-storage facilities in North Carolina. The facilities are all located in the Asheville Metropolitan Statistical Area and provide easy access with grade level drive-up, climate-controlled and RV units. The purchase totaled 4,850 units, 76 buildings and 553,500 rentable square feet.
“Collectively these 11 properties have averaged an overall occupancy of 95 percent during 2016 and require little capital expenditure,” Michael Schwartz, chairman & CEO of SST II, said in prepared remarks. “The dynamics of this portfolio are a great balance to our existing self-storage facilities located throughout the U.S. and Canada.”
The locations were 127/1130/2594 Sweeten Creek Road, 40 Wilmington St., 90 Highland Center Blvd., 600 Patton Ave., 21 Sardis Road and 550 Swannanoa River Road in Asheville, 3909 Sweeten Creek Road in Arden and 102 Glover St. and 1931 Spartanburg Highway in Hendersonville.
“Asheville will provide a captive market for us,” added Wayne Johnson, CIO of SST II. “Many of the properties have expansion land that we plan on getting underway immediately.”
Image courtesy of Strategic Storage Trust II Inc.