Strategic Storage Growth Trust, Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC, announced today its purchase of a 730-unit self storage facility in the Dallas-Fort Worth Metroplex.
"This property is located directly in the population growth path of McKinney and Far North Dallas," said Wayne Johnson, chief investment officer. "There are numerous mixed-use and planned developments surrounding the facility, bringing thousands of new single-family homes and major retailers to the area. It fits well with our acquisition strategy to strategically acquire properties with the potential for revenue growth and add value through active management."
Located at 2280 N. Custer Road in McKinney, Texas, the self storage property is comprised of 10 single-story buildings with approximately 230 drive-up units and 500 first-floor units that are climate controlled. Constructed in 2015 on 4.1 acres of land, the approximately 95,000 square-foot property features security cameras, gated entry and electronic-access buildings.
About Strategic Storage Growth Trust, Inc. (SSGT)
SSGT is a public non-traded REIT that focuses on the acquisition, development, redevelopment and lease-up of self storage properties. The SSGT portfolio currently consists of 26 operating self storage facilities located in 10 states comprising approximately 17,300 self storage units and approximately 1.9 million net rentable square feet of storage space. Additionally, SSGT owns two development properties in the Greater Toronto Area which will be comprised of approximately 1,700 self storage units and 170,000 net rentable square feet of storage space once completed.