Strategic Storage Trust, Inc. (SSTI) – a publicly registered non-traded REIT investing in self storage – recently purchased a 500-unit, four building self-storage facility located at 1343 Big Bethel Road in Hampton, Va., for approximately $6.7 million. The 71,500 NRSF facility will be re-branded under the SmartStop Self Storage trade name.
“We acquired this facility for its newer construction and due to the growing military market in Hampton,” said H. Michael Schwartz, chairman and CEO of SSTI. “This acquisition is a perfect complement to our other multi-story self-storage building located five miles away in Hampton.” Built in 2007 and 90 percent occupied at acquisition, the Hampton facility offers all ground-level units with approximately 50 percent climate controlled and the other half drive-up non-climate controlled units.
SSTI’s current Virginia portfolio totals approximately 415,000 NRSF with a total of approximately 3,800 units. This portfolio includes:
* LaSalle Avenue in Hampton (640 units, 70,100 NRSF )
* Lee Road in Chantilly (860 units, 83,400 NRSF)
* Williamsburg Road in Sandston (675 units, 78,000 NRSF)
* Plank Road in Fredericksburg (610 units, 59,600 NRSF)
* Colonial Court in Manassas (495 units, 52,800 NRSF)
About Strategic Storage Trust, Inc.
Strategic Storage Trust, Inc. (SSTI) is comprised of industry veterans with extensive institutional experience in the acquisition and property management of self-storage properties. Since the launch of SSTI in 2008, the company’s portfolio of wholly-owned properties has expanded to include 123 properties in 17 states and Canada that are being branded as SmartStopR Self Storage. The portfolio includes approximately 78,000 self-storage units and 10.25 million rentable square feet of storage space. For more information about SSTI, please call 949-469-6600 or visit www.strategicstoragetrust.com. To view our self-storage locations or to find self-storage solutions at a nearby storage facility, visit: https://SmartStopSelfStorage.com.]]>