Strategic Storage Acquires 510-Unit Facility in Sarasota, FL
- May 26, 2017
Strategic Storage Growth Trust Inc., a REIT sponsored by SmartStop Asset Management, acquired a newly constructed, 510-unit self-storage facility in Sarasota, Fla.
Located at 1027 N. Washington Blvd., the three-story structure includes 48,000 square feet of rental space.
“This newly constructed self storage facility is easily accessible via well-trafficked thoroughfares in Sarasota, including U.S. Route 301,” said Michael Schwartz, chairman & CEO of Strategic Storage, in prepared remarks. “This modern facility is 100 percent climate controlled and an attractive addition to our growing portfolio of operating properties, which now includes more than 12,400 self storage units in eight states.”
The SSGT portfolio currently consists of 19 operating self-storage facilities, located in eight states, comprising 12,400 units and 1.4 million net rentable square feet. The REIT is also developing two properties in the Greater Toronto Area that will comprise 1,700 self-storage units and one in Asheville, N.C. that will comprise 650.
Image courtesy of Extra Space Storage