Strategic Storage Growth Trust II, Inc. Acquires Two Self Storage Facilities Near Tampa, Florida
LADERA RANCH, Calif., Sept. 23, 2020 /PRNewswire/ -- Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today its acquisition of two recently constructed self storage facilities located in St. Petersburg and Lutz, Florida.
"These acquisitions represent Strategic Storage Growth Trust II's continued expansion in the highly attractive Florida market. The Class A facilities are highly visible and located in growth paths adjacent to community retail centers and residential developments," said Wayne Johnson, chief investment officer of SSGT II. "These properties are the type of high-quality self storage facilities that Strategic Storage Growth Trust II seeks to acquire on behalf of its investors and we anticipate significant revenue growth from the completion of their lease-up."
The state-of-the-art properties comprise a total of approximately 150,000 square feet of space and 1,580 units. The facilities offer multiple amenities, including interior climate-controlled units, easily accessible elevators with keypad access for each floor, LED lighting, video surveillance, exterior parking and more.
St. Petersburg, Florida
The St. Petersburg property is well-positioned to serve the communities of historic Kenwood, United Central, Childs Park, Jordan Park, Melrose-Mercy, North Kenwood and Downtown St. Petersburg. The property consists of approximately 790 climate-controlled units and is located just north of Walmart and in close proximity to Seminole Park. More detail on the facility can be found at:
https://smartstopselfstorage.com/find-storage/fl/st-petersburg/16900-state-road-54
Lutz, Florida
The Lutz location houses approximately 750 climate-controlled units and exterior parking for 50 RVs or boats. This location serves the communities of Lutz, Odessa, Lake Fern, Land O Lakes, Meadowbrook Estates, Concord Station, and Sierra Pines. Situated on the heavily trafficked Hwy 54, the highly visible and easily accessible property is located in a high population growth pathway. More detail on the facility can be found at:
https://smartstopselfstorage.com/find-storage/fl/lutz/289-34th-st
About Strategic Storage Growth Trust II, Inc. ("SSGT II"):
SSGT II is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSGT II focuses on opportunistic self storage properties. SSGT II wholly owns 8 self storage facilities comprising approximately 6,100 self storage units and 630,000 net rentable square feet of storage space, as well as one operating property in a joint venture in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.
About SmartStop Self Storage REIT, Inc. (SmartStop)
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 380 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 $1.6 billion of real estate assets under management, including an owned and managed portfolio of 146 properties in 19 states and Toronto, Canada and comprising approximately 97,000 units and 11.1 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Contact:
Mark Barbalato
FTI Consulting
212.850.5707
[email protected]
SOURCE Strategic Storage Growth Trust II, Inc.
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