Las Vegas—Strategic Storage Trust II, which is sponsored by SmartStop Asset Management LLC, has acquired a self storage facility at 6318 W. Sahara Ave. in Las Vegas for $9.25 million.
The property encompasses 640 units across approximately 82,200 rentable square feet. Its former owner was Pegasus Group, according to Yardi Matrix.
“Our current portfolio now includes a total of three Las Vegas facilities,” Michael Schwartz, chairman & CEO of SST II, said in prepared remarks. “This prime 93 percent occupied facility is located on the highly trafficked Sahara Boulevard with excellent signage.”
The nine-building facility was built in 1989 and lies on approximately 4 acres. The property offers climate-controlled and drive-up units.
“We are looking forward to improving this facility’s performance, while offering top customer service,” added Wayne Johnson, CIO for SST II.
Earlier in September, SST II announced the acquisition of another Las Vegas self storage facility at 9890 Pollock Drive. The property consists of 810 units across approximately 101,400 rentable square feet.
About Strategic Storage Trust II, Inc. (SST II)
Strategic Storage Trust II, Inc. (SST II) is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 41,600 self storage units and approximately 4.8 million rentable square feet of storage space.
About SmartStop Asset Management, LLC
SmartStop Asset Management, LLC is a diversified real estate company with a managed portfolio that currently includes approximately 58,700 self storage units and approximately 6.7 million rentable square feet. The company is the asset manager for 88 self storage facilities located throughout the United States and Toronto, Canada. SmartStop Asset Management is the sponsor of both SST II and Strategic Storage Growth Trust, Inc. (SSGT), a public non-traded REIT focusing on opportunistic self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. Additional information is available at www.smartstopassetmanagement.com