Strategic Storage Trust II Expands in Las Vegas
- Sep 28, 2016
By Adriana Pop
Las Vegas—Strategic Storage Trust II, which is sponsored by SmartStop Asset Management LLC, has purchased a Las Vegas self-storage facility comprising approximately 810 units, 39 of which are RV parking spaces, across approximately 101,400 rentable square feet.
“This Las Vegas facility represents the second half of a two-property transaction,” Michael Schwartz, chairman & CEO of SST II, said in prepared remarks. “The sister facility, which we acquired back in July, is located less than a mile away on E. Silverado Blvd., and contains a complimentary offering of unit types. Now we have a clear opportunity for referral business and co-branding.”
The property is located at 9890 Pollock Drive and includes 11 buildings sitting on approximately 5.5 acres. The facility, which was 83 percent occupied upon closing, was built in 2000 and offers climate controlled units, drive-up units and RV parking.
“This facility is located in the center of the surrounding residential trade area in a region of the city that has limited competition,” added Wayne Johnson, CIO for SST II.
Other recent Strategic Storage Trust II expansions include a 340-unit facility in downtown Sonoma, Calif., as well as an 11-property portfolio totaling approximately 9,540 units in Florida and Maryland.
Image courtesy of Strategic Storage Trust II