LADERA RANCH, Calif.--(BUSINESS WIRE)--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 the acquisition of an approximately 665-unit self storage facility in Surprise, Arizona. The property was completed in 2017 and was approximately 87% occupied at acquisition. This is the fourth acquisition in the newly formed SST VI and the sixth property owned or managed by Smartstop in the Phoenix market.
Located at 11658 W. Bell Rd, the two-story facility is composed of approximately 72,800 square feet of rental space across a mix of 665 climate controlled and non-climate controlled units. This location is well positioned to serve the areas of Fletcher Heights, Arrowhead Ranch, Sun City, Youngtown, El Mirage and Sun City West. It is easily accessible from U.S. Route 60 and Arizona State Route 101, with good visibility from W. Bell Road. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system, secured and alarmed doors, gated entry, ground floor drive up units, and interior climate-controlled units with spacious elevators for second level units.
“Surprise is a dense, established community of Phoenix that is experiencing very strong population growth,” said Wayne Johnson, Chief Investment Officer of SST VI. “We expect this facility, which is a good representation of the latest generation of self-storage product, to perform very well in a submarket that is primarily composed of older generation facilities. We are extremely pleased to add this high quality property to our portfolio at SST VI.”
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 United 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. SmartStop is one of the largest self storage companies in North America, with approximately $1.8 billion of real estate assets under management, including an owned and managed portfolio of 157 properties in 19 states and Ontario, Canada and comprising approximately 106,000 units and 12.1 million rentable square feet. SmartStop and its affiliates own or manage 18 operating self storage properties in the Greater Toronto Area, which total approximately 15,200 units and 1.6 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
