April 27, 2010 6:34 PM
The self storage industry is continuing to expand this spring with a wave of new facilities opening up across the country, particularly in the South.
In Georgia, a private investor has purchased the four-year-old East Ellijay facility of American Storage. The facility has about 35,000 square feet of rentable space, divided into 248 units, some of which are climate-controlled. The property also features a truck rental service and has several security features, including digital entry, perimeter fencing, and security cameras. The sale was brokered by Dale Eisenman, the president of Midcoast Properties Inc. [More]
April 13, 2010 10:15 AM
California real-estate investment trust Strategic Storage Trust Inc. (SSTI) has added a new self storage site to the 30 that it currently owns -- Augusta Ranch Self Storage, at 9252 E. Guadalupe Road, in Mesa, Arizona. The business will be renamed SmartStop, to match Strategic Storage's other self storage businesses. [More]
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]