{"id":1004145505,"date":"2016-06-07T03:32:59","date_gmt":"2016-06-07T11:32:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004145505"},"modified":"2020-04-28T21:48:33","modified_gmt":"2020-04-29T05:48:33","slug":"strategic-storage-trust-ii-buys-11-self-storage-facilities-in-florida-and-maryland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/strategic-storage-trust-ii-buys-11-self-storage-facilities-in-florida-and-maryland\/","title":{"rendered":"Strategic Storage Trust II Buys 11-Property Portfolio"},"content":{"rendered":"<p><em>By Adriana Pop<\/em><\/p>\n<p><strong>Ladera Ranch, Calif<\/strong>.\u2013<a href=\"https:\/\/www.strategicreit.com\/home-page\" target=\"_blank\" rel=\"nofollow\">Strategic Storage Trust II<\/a>, which is sponsored by <a href=\"https:\/\/www.strategicreit.com\/\" target=\"_blank\" rel=\"nofollow\">SmartStop Asset Management LLC<\/a>, has purchased 11 <a href=\"https:\/\/www.commercialsearch.com\/news\/self-storage\/\" target=\"_blank\">self storage facilities<\/a> located in Florida and Maryland totaling approximately 9,540 units and approximately 985,500 rentable square feet.<\/p>\n<div id=\"attachment_1004145506\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004145506\" data-attachment-id=\"1004145506\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-trust-ii-buys-11-self-storage-facilities-in-florida-and-maryland\/189-linton-blvd-delray-fla\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg\" data-orig-size=\"948,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"189 Linton Blvd., Delray, Fla.\" data-image-description=\"&lt;p&gt;189 Linton Blvd., Delray, Fla.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;189 Linton Blvd., Delray, Fla.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg?w=948\" class=\"wp-image-1004145506 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg\" alt=\"189 Linton Blvd., Delray, Fla.\" width=\"300\" height=\"190\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg 948w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg?resize=300,190 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/189-Linton-Blvd.-Delray-Fla..jpg?resize=768,486 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004145506\" class=\"wp-caption-text\">189 Linton Blvd., Delray, Fla.<\/p><\/div>\n<p>&#8220;The Mindful acquisition is accretive to our portfolio in many categories &#8212; including asking rents and occupancy,&#8221; Michael Schwartz, chairman &amp; CEO of SST II, said in a prepared statement. &#8220;At 96 percent occupancy, these 11 properties represent a proven income stream with imbedded operational upside.&#8221;<\/p>\n<p>Ten facilities are located in Florida and one facility is located in Baltimore, Md. All properties provide easy access with grade level drive-up units, climate controlled units and RV units.<\/p>\n<p>&#8220;We like the diversity of these assets across the southern half of Florida,&#8221; added Wayne Johnson, CIO for SST II. &#8220;There are 10 stores spread amongst five counties, each in dense and established markets.\u00a0The Baltimore property is in a region that we know well from a historical perspective and fits within our future growth plans.&#8221;<\/p>\n<p>The 10 Florida properties included in the portfolio are:<\/p>\n<ul>\n<li>189 Linton Blvd., Delray: 900 units, 121,500 square feet.<\/li>\n<li>2320 NE 5th Ave., Pompano Beach: 870 units, 114,500 square feet.<\/li>\n<li>10719 Southern Blvd., Royal Palm Beach: 850 units, 92,700 square feet.<\/li>\n<li>10325 W. Broward Blvd., Plantation: 910 units, 89,800 square feet.<\/li>\n<li>2581 Jupiter Park Dr., Jupiter: 820 units, 87,400 square feet.<\/li>\n<li>1341 State Rd. 7, Wellington: 730 units, 81,700 square feet.<\/li>\n<li>8135 Lake Worth Rd., Lake Worth: 830 units, 78,100 square feet.<\/li>\n<li>7755 Preserve Ln., Naples: 800 units, 75,900 square feet.<\/li>\n<li>501 NW Business Center Dr., Port St. Lucie: 720 units, 71,800 square feet.<\/li>\n<li>10451 NW. 33<sup>rd<\/sup>, Doral: 1,030 units, 71,500 square feet.<\/li>\n<\/ul>\n<p>The Maryland facility is located at 7989 Rossville Blvd. in Baltimore and offers 1,080 units and 100,600 square feet.<\/p>\n<p>Strategic Storage Trust II recently expanded with the acquisition of <a href=\"https:\/\/www.commercialsearch.com\/news\/california-reit-to-acquire-371m-worth-of-assets-from-mindful-storage\/\" target=\"_blank\">a portfolio of 27 facilities totaling more than 1.5 million square feet<\/a> in North Carolina, Florida and Maryland, as well as the purchase of a <a href=\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-trust-ii-expands-in-metro-miami\/\" target=\"_blank\">530-unit self-storage property in Port St. Lucie, Fla.<\/a> Earlier this year in February, the public, non-traded REIT acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-trust-ii-buys-canadian-portfolio-for-38m\/\" target=\"_blank\">three facilities in Greater Toronto<\/a>. In March, Strategic Storage Trust II bought two additional properties in the same area of Canada, one made up of 460 units in Burlington and one consisting of 740 units in Oakville.<\/p>\n<p><em>Image courtesy of Security Self-Storage <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The portfolio totals approximately 9,540 units and 985,500 rentable square feet with an average occupancy of 96 percent.<\/p>\n","protected":false},"author":260,"featured_media":1004145506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1492,11,21742],"tags":[],"class_list":["post-1004145505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-miami","category-midatlantic","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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