Strategic Storage Trust IV Grows Portfolio
- Jul 24, 2018
Strategic Storage Trust IV has acquired a 600-unit facility in North Las Vegas. StorageOne sold the property, which was 92 percent leased at the time of the sale, according to Yardi Matrix.
Located at 2555 W. Centennial Parkway, the storage facility is near Freeway 215 and Interstate 15, approximately 10 miles from downtown Las Vegas and within 7 miles of North Las Vegas Airport. Built in 2006, the property occupies 2.2 acres and comprises 66,400 net rentable square feet. Characteristics of the building include computerized gate and lobby access, elevators, fencing and lighting, individually alarmed units, tenant insurance, video surveillance, moving carts and air-conditioned units.
“This self-storage facility is part of a busy neighborhood retail center with access and signage along Aliante Parkway and Simmons Street, two primary corridors with high traffic counts in North Las Vegas,” said Wayne Johnson, chief investment officer, in prepared remarks. “Through its affiliated property management arm, Strategic Storage Trust IV will bring institutional expertise to a locally managed outlet where renters will benefit from an in-house call center and the full resources of a nationwide professional self-storage operator.”
In April, Strategic Storage Trust IV also purchased a 460-unit facility in Riverside, Calif.
Image courtesy of Yardi Matrix