Fredericksburg, VA Facility
(Mark Your Calendars: RealShare Orange County, August 18 in Newport Beach).
LADERA RANCH, CA-Strategic Storage Trust Inc. has acquired 11 self-storage properties totaling approximately 6,300 units and 821,000 square feet in five states from JF Storage Holding LLC for $44 million. SSTI, a non-traded REIT, plans to rebrand the facilities under its SmartStop Self Storage trade name.
H. Michael Schwartz, SSTI’s chairman and CEO, said in an announcement regarding the deal: “These properties will extend our growing brand from the Southeast, through the Mid-Atlantic and up to the Northeast.” The portfolio “comes at a great value and increased economies of scale to SSTI and to our stockholders,” Schwartz commented. Wayne Johnson, senior vice president of acquisitions for SSTI, commented, “All of these properties are in well-trafficked locations with favorable market dynamics.”
Buford, GA Property
The properties include five in Georgia, two each in Virginia and Pennsylvania, and one each in New Jersey and New York. The locations are as follows:
Georgia: 201 Fulton Court, Peachtree City, 670 units, 123,400 square feet; 4257 Buford Dr., Buford, 520 units, 68,900 square feet; 8337 Tara Blvd., Jonesboro, 730 units, 106,400 square feet; 5484 Flakes Mill Rd., Ellenwood, 300 units, 40,700 square feet; 2619 Austell Rd., Marietta, 480 units, 61,200 square feet.
Virginia: 5219 Plank Rd., Fredericksburg, 630 units, 59,600 square feet; 520 W. Williamsburg Rd., Sandston, 680 units, 78,100 square feet.
Pennsylvania: 99 Second Ave., Collegeville, 540 units, 58,400 square feet; 4435 Skippack Pike, Skippack: 390 units, 56,300 square feet.
New Jersey: 3600 Quakerbridge Rd., Trenton, 660 units, 85,100 square feet. New York. 75 Brookline Rd., Ballston Spa, 690 units, 82,800 square feet.
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