Strategic Storage Trust IV, a public non-traded REIT sponsored by SmartStop Asset Management LLC, has acquired a 460-unit self storage facility in California. The property was sold by an Inland Empire-based private owner, according to Yardi Matrix.
Located at 3167 Van Buren Blvd. in Riverside, the facility is two blocks south of the 91 Freeway, approximately 10 minutes from downtown Riverside and from the city of Corona. Built in 1984, the 55,000 square-foot facility comprises units ranging from 28 to 480 square feet. Amenities include a gate, drive-up access, parking and security camera.
“We believe the property will be an exceptional addition to the rapidly growing portfolio of Strategic Storage Trust IV,” said Wayne Johnson, chief investment officer at Strategic Storage Trust IV, in prepared remarks. “Located just two blocks south of the 91 Freeway, this asset is on a major artery serving the City of Riverside and should benefit operationally by being in proximity to other SmartStop managed facilities in the area.”