The 3.4-acre site has 54,000 square feet of storage space, including 28,000 square feet of climate-controlled space, in 695 units
February 26, 2018: Strategic Storage Growth Trust Inc., a public, non-traded real estate investment trust focused on self-storage acquisition, development, redevelopment and lease-up of self-storage properties, has recently acquired a newly constructed facility in the Tampa, Florida, suburb of Riverview.
According to a press release, the multi-story property is near U.S. Route 301, which runs across the South Atlantic states.
“A focus of Strategic Storage Growth Trust is to acquire self-storage properties that have the opportunity to add value to our portfolio through active management,” said Wayne Johnson, chief investment officer. “This newly constructed, class-A property is in an area with growing demand for self-storage, and provides an amenities package that we believe will be particularly attractive to our customers.”
The buyer and the seller were represented in the transaction by Luke Elliott and Michael A. Mele, investment specialists for Marcus & Millichap, a real estate investment firm with offices in Canada and the United States.
SSGT recently completed its purchase of a ground-up self-storage development in Pembroke Pines, Fla which includes 84,000 square feet of storage space in 870 climate-controlled units. The company is also converting a former industrial building in Asheville, N.C., to self-storage, and has two properties under development in the Greater Toronto Area.