PHOENIX-Strategic Storage Trust Inc. has acquired two self-storage facilities totaling 880 units for $3.5 million. The non-traded REIT bought the 1980s-era properties in an all-cash transaction.
The two facilities – one located in Phoenix and one located in Tempe, AZ – were acquired from a local owner-operator. Bill Alter with R&G Commercial brokered the transaction.
With the addition of these two properties, Strategic Storage Trust now owns four self-storage assets in the Phoenix metro area. Last month, the REIT acquired a 570-unit self storage property in nearby Mesa AZ. The company also owns a 520-unit property at 2727 West Missouri Ave. in Phoenix.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
