Strategic Storage Trust VI, Inc. Acquires 810-Unit Storage Facility in Phoenix, AZ
LADERA RANCH, Calif., March 15, 2021 /PRNewswire/ -- Strategic Storage Trust VI, Inc. (“SST VI”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today its acquisition of an approximately 810-unit self storage facility in Phoenix, Arizona. The property was completed in May 2020 and was approximately 44% occupied at acquisition. This is the first acquisition in the newly formed SST VI and the fifth property owned or managed by Smartstop in the Phoenix market.
“The Baseline facility is located 4 miles from an existing SmartStop store located on Baseline Rd that has performed very well for us. The site plan is user friendly and provides a wide variety of units to offer,” said Wayne Johnson, chief investment officer of SST VI. “This high quality property is a great way to start our portfolio.”
Located at 4715 E. Baseline Road at the intersection of Baseline Road and 48th Street, the newly constructed climate controlled facility is composed of approximately 84,200 square feet of rental space. This location is well positioned to serve the areas of Knoell Gardens, South Mountain, Ahwatukee, and South Tempe. It is easily accessible from I-10 and is within blocks of Arizona Mills and Arizona Grand Resort. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system with high definition camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground floor drive up units, and interior climate-controlled units with spacious elevators for upper level units. More detail on the facility can be found at:
About Strategic Storage Trust VI, Inc. (“SST VI”):
SST VI is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in income producing and growth self storage facilities and related self storage real estate investments in the Unites States and Canada.
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.7 billion of real estate assets under management, including an owned and managed portfolio of 152 properties in 19 states and Toronto, Canada and comprising approximately 103,000 units and 11.6 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
View original content to download multimedia: http://www.prnewswire.com/news-releases/strategic-storage-trust-vi-inc-acquires-810-unit-storage-facility-in-phoenix-az-301247766.html
SOURCE Strategic Storage Trust VI, Inc.