February 25, 2010 6:47 PM
Strategic Storage Trust, Inc. (SSTI) announced today that it purchased two self-storage facilities from Chicago Five Properties, LLC, for a combined purchase price of $23 million, cash. One facility is located in Fort Lee, New Jersey, while the other is located in Weston, Florida.
SSTI's chairman and CEO, H. Michael Schwartz, was pleased with the acquisition. "These facilities represent newer Class A properties in prime markets," he said. "Both properties offer the latest generation of secured climate-controlled self storage featuring convenient access to major roads and interstates." [More]