LADERA RANCH, Calif. – June 6, 2016 –Strategic Storage Trust II, Inc. (SST II) — which is sponsored by SmartStop Asset Management, LLC — recently purchased 11 self storage facilities located in Florida and Maryland totaling approximately 9,540 units and approximately 985,500 rentable square feet.
“The Mindful acquisition is accretive to our portfolio in many categories – including asking rents and occupancy,” said H. Michael Schwartz, chairman and CEO of SST II. “At 96% occupancy, these 11 properties represent a proven income stream with imbedded operational upside.”
Ten facilities are located in Florida and one facility is located in Baltimore, Maryland. All properties provide easy access with grade level drive-up units, climate controlled units and RV units.
“We like the diversity of these assets across the southern half of Florida,” said Wayne Johnson, CIO for SST II. “There are 10 stores spread amongst five counties, each in dense and established markets. The Baltimore property is in a region that we know well from a historical perspective and fits within our future growth plans.”
The details of the 11 properties in this portfolio are as follows:
Florida
- 189 Linton Blvd., Delray: 900 units, 121,500 square feet.
- 2320 NE 5th Avenue, Pompano Beach: 870 units, 114,500 square feet.
- 10719 Southern Blvd., Royal Palm Beach: 850 units, 92,700 square feet.
- 10325 W. Broward Blvd., Plantation: 910 units, 89,800 square feet.
- 2581 Jupiter Park Dr., Jupiter: 820 units, 87,400 square feet.
- 1341 State Rd. 7, Wellington: 730 units, 81,700 square feet.
- 8135 Lake Worth Rd., Lake Worth: 830 units, 78,100 square feet.
- 7755 Preserve Ln., Naples: 800 units, 75,900 square feet.
- 501 NW Business Center Dr., Port St. Lucie: 720 units, 71,800 square feet.
- 10451 NW. 33rd St., Doral: 1,030 units, 71,500 square feet.
Maryland
- 7989 Rossville Blvd., Baltimore: 1,080 units, 100,600 square feet.
About Strategic Storage Trust II, Inc. (SST II)
Strategic Storage Trust II, Inc. (SST II) is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 39,630 self storage units and approximately 4.3 million rentable square feet of storage space.