SSGT II Pays $16M for Sacramento Asset
- Mar 07, 2019
Strategic Storage Growth Trust II Inc., sponsored by SmartStop Asset Management LLC, has acquired a 94,000-square-foot facility in Sacramento, Calif. North American Self Storage Group sold the 1092-unit asset for around $15.6 million. This marks the first purchase of Strategic Storage Trust II.
Located at 9950 Mills Station Road, the facility is alongside Freeway 50, around 13 miles from downtown Sacramento as well as from Sacramento McClellan Airport. Additionally, the facility is situated near residential areas; there are roughly 7,400 units completed within a 3-mile radius. Built in 2018, the storage asset encompasses a total of 1,029 climate-controlled units, ranging from 25 to 600 square feet. The facility is gated and features 24-hour video surveillance, on-site management and kiosks.
“We expect to achieve significant value with this facility, which should command significant demand given its exceptional location, accessibility and modern design,” said Michael Schwartz, chief executive officer of Strategic Storage Growth Trust II, in prepared remarks.
Last year in October, Strategic Storage Trust II Inc. and Strategic Storage Growth Trust Inc. merged in a $340 million deal.