LADERA RANCH, Calif.--(BUSINESS WIRE)--Strategic Storage Trust VI, Inc. (“SST VI”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of an approximately 335-unit self storage facility in Las Vegas, Nevada. The property was completed in September 2020 and was approximately 19% occupied at acquisition. This is the third acquisition in the newly formed SST VI and the tenth property owned or managed by SmartStop in the Las Vegas market.
Located at 8570 S. Durango Drive at the intersection of Cougar Avenue and Durango Drive, the newly constructed facility is composed of approximately 52,200 square feet of rental space. This location is well positioned to serve the areas of Las Vegas, Enterprise, Rhodes Ranch, Sovana, Spring Valley, and Silverado Ranch. It is easily accessible from I-15 and the Bruce Woodbury Beltway, and a short drive from downtown Las Vegas. The new SmartStop® Self Storage location has desirable amenities including a sophisticated security system, secured and alarmed doors, gated entry, ground floor drive up units, and interior climate-controlled units with spacious elevators for second level units.
“Southwest Las Vegas is experiencing rapid growth with some of the strongest forecasted population growth in the country over the next five years,” said Wayne Johnson, Chief Investment Officer of SST VI. “The Durango facility is located 3.7 miles from an existing SmartStop store and is our 10th facility in Las Vegas. The site plan is user friendly, has great frontage to the highly traveled Durango Drive and is surrounded by dense residential communities, with additional residential projects under construction. This high quality property is a great addition to our portfolio at SST VI.”
About Strategic Storage Trust VI, Inc. (SST VI):
SST VI is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in income producing and growth self storage facilities and related self storage real estate investments in the United States and Canada.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.8 billion of real estate assets under management, including an owned and managed portfolio of 155 properties in 19 states and Ontario, Canada and comprising approximately 104,000 units and 11.9 million rentable square feet. SmartStop and its affiliates own or manage 17 operating self storage properties in Ontario, Canada, which total approximately 14,200 units and 1.4 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.