Strategic Storage Trust II Acquires Las Vegas Facility
The 745-unit facility offers value-add opportunities in both rents and occupancy.
By Adriana Pop
Las Vegas—Strategic Storage Trust II, which is sponsored by SmartStop Asset Management LLC, has purchased a self-storage facility in Las Vegas. The property is located at 590 E. Silverado Ranch Blvd., and consists of approximately 745 units across 90,000 rentable square feet.
SST II Buys 590 E. Silverado Ranch Blvd., in Las Vegas
“This facility is located in a densely populated market with excellent access,” Michael Schwartz, chairman & CEO of SST II, said in prepared remarks. “We look forward to providing Class A service to our tenants and customers.”
Built in 2002, the four-building Las Vegas facility sits on approximately 3.45 acres. The facility offers climate-controlled units and drive-up units.
“At 85 percent occupancy, this property is in good physical shape with upside remaining in both rents and occupancy,” added Wayne Johnson, chief investment officer for SST II.
Recent Strategic Storage Trust II expansions include a 340-unit facility in downtown Sonoma, Calif., as well as an 11-property portfolio totaling approximately 9,540 units in Florida and Maryland.
Image courtesy of Strategic Storage Trust II
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