Wando Park Self Storage in Mount Pleasant, SC, Acquired by Strategic Storage Growth Trust

Update 7/19/17 – Wando Park Self Storage has been acquired by Strategic Storage Growth Trust Inc. (SSGT), a public, non-traded real estate investment trust (REIT) focused on self-storage acquisition and development, for $5.7 million. The 1.5-acre property comprises 48,000 rentable square feet of storage space. It’ll be managed by REIT Extra Space Storage Inc. and branded under its name.

“This modern self-storage facility is 100 percent climate-controlled and easily accessible to renters via Interstate 526 and other heavily trafficked thoroughfares,” said H. Michael Schwartz, CEO and chairman of SSGT. “The property presents an opportunity to add significant value to the portfolio of Strategic Storage Growth Trust as our professional management team leases up the facility, which is currently 16 percent leased. This acquisition fits our investment strategy, which is to acquire attractive value-add opportunities.”

SSGT focuses on the acquisition, development, redevelopment and lease-up of self-storage properties. Its portfolio currently consists of 20 storage facilities in nine states comprising approximately 1.5 million net rentable square feet in 12,900 storage units. The company is sponsored by SmartStop Asset Management LLC, a diversified real estate company with a managed portfolio of 109 self-storage facilities in Canada and the United States. Its managed properties comprise approximately 7.9 million rentable square feet.

Headquartered in Salt Lake City, Extra Space owns or operates 1,441 self-storage properties in 38 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 980,000 units and 109 million square feet of rentable space.

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12/1/16 – Wando Park Self Storage in Mount Pleasant, S.C., is now open. The property is near apartments, single-family residences and local businesses. The facility includes two elevators and a variety of unit sizes.

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7/19/16 – Wando Park Self Storage at 701 Wando Park Blvd. in Mount Pleasant, S.C., which is currently under construction, has named Grier Lesslie as a third managing partner. Additional partners include longtime local residents John C. Maize Senior and Junior.

Lesslie is a South Carolina native and a graduate of the University of South Carolina, where he majored in sports administration with a concentration in finance and marketing. His career in sales and marketing includes 20 years in various management positions in the healthcare, hospitality and industrial-instrumentation industries, according to the source.

Most recently, Lesslie was the business-development manager for MedTrust Medical Transport LLC, a provider of ambulance services and medical transport in Beaufort, Charleston and Myrtle Beach, S.C. Prior to that, he served as a sales manager for Swagelok, which designs and manufactures fluid-system products.

The 68,000-square-foot, climate-controlled self-storage facility will include 500 units over three stories, and be open daily from 6 a.m. to 10 p.m. It’s next to the Westbrook Brewing Co. and a mile from the intersection of Interstate 526 and Longpoint Road. Slated to open next month, the business is offering customers a special pre-opening rental rate, according to its website.

“We think we will be the perfect neighborhood solution for extra personal and business storage,” Lesslie said. “We actually live in the greater community and consider ourselves the neighborhood option for safe, secure and well-managed extra storage space.”