Strategic Storage Growth II Expands to Las Vegas
The private trust, affiliated with SmartStop Self Storage REIT, has entered the metro’s market with the acquisition of a newly constructed 950-unit facility.
November 5, 2020 | Gail Kalinoski | Commercial Property Executive
Strategic Storage Growth Trust II, a private trust affiliated with SmartStop Self Storage REIT, has made its entry into the Las Vegas market with the acquisition of a newly constructed 950-unit self storage facility. It is the ninth property owned or managed by SmartStop in the Las Vegas area. SmartStop did not release the price or seller.
Wayne Johnson, chief investment officer, said in a prepared statement there is significant multifamily and residential growth in the immediate area that will be beneficial to the asset. Located at 5730 S. Durango Drive south of the Spanish Trail Golf Course, the state-of-the-art air-cooled facility has about 99,300 square feet of space. It is situated at the intersection of Durango Drive and Russell Road near State Route 215 and is well positioned to serve the Spring Valley, Rhodes Ranch, South Summerlin, West Sahara and Sovana areas.
The new property has a sophisticated security system with high-definition camera surveillance, secured and alarmed doors, gated entry, LED lights, ground-floor drive-up units, interior climate-controlled units with two easily accessible large capacity elevators and covered exterior parking for RVs and boats.
