SAN ANTONIO--Strategic Storage Growth Trust Inc. (SSGT), which is sponsored by SmartStop Asset Management LLC, has acquired a self-storage facility for approximately $12.3 million.
The facility consists of nearly 385 self-storage units and approximately 49,250 net rentable square feet of storage space. In addition, the property contains 5,800 net rentable square feet of cold storage space, 8,300 net rentable square feet of office space and 9,000 net rentable square feet of "flex" warehouse space.
"We are pleased with our continued acquisition growth and our ability to find high quality self-storage properties with strong growth potential," said H. Michael Schwartz, chairman and CEO of SSGT.
The San Antonio property, located at 875 E. Ashby Place, will offer climate-controlled units and industrial warehouse/office space.
"The property is located in the fast redeveloping area around the historic Pearl Brewery with significant multifamily development underway," said Wayne Johnson, CIO of SSGT "We look forward to providing our services to this active community."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.
