480-Unit Lone Star State Self-Storage Facility Changes Hands
The Texas City property is strategically situated near Emmett F. Lowry Expressway, a major transit corridor. Strategic Storage Trust IV was the buyer.
By Evelyn Jozsa
3730 Emmett F. Lowry Expressway, Texas City
Strategic Storage Trust IV Inc., sponsored by SmartStop Asset Management LLC., has acquired a 480-unit, Class A self-storage facility in Texas City, Texas. The property is 95 percent leased.
Strategically located at 3730 Emmett F. Lowry Expressway, the facility is exposed to a major transit corridor in the area and provides access to Houston via Interstate 45. Constructed in 2010, the self-storage building totaling 80,000 square feet occupies 3.17 acres and features an additional 7.3-acre parcel which allows for further expansion. Other amenities include climate-controlled units, drive-up access, parking, security cameras, on site manager and truck rental options.
“This acquisition aligns perfectly with Strategic Storage Trust IV’s investment strategy to acquire a portfolio of stabilized self-storage properties mixed with value-add options that provide growth opportunities,” said Michael Schwartz, chairman & executive officer of Strategic Storage Trust IV, in prepared remarks.
Image courtesy of Yardi Matrix
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