Strategic Storage Trust IV Inc. (SST IV), a public, non-traded, real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a self-storage facility in Las Vegas. Value Self Storage at 8020 Las Vegas Blvd. S. comprises about 55,000 rentable square feet in 580 units, according to a press release.
The property is adjacent to Interstates 15 and 215, “with solid population density and a high traffic count," said Wayne Johnson, chief investment officer. "This acquisition aligns well with our investment criteria, and we believe the property will benefit operationally by being in close proximity to other SmartStop managed facilities in the area."
Based in Maryland, SST IV owns four self-storage properties comprising about 237,000 net rentable square feet. It intends to invest in a portfolio of self-storage properties in Canada and the United States.
SmartStop is the asset manager for 114 facilities in Canada and the U.S. Its portfolio comprises approximately 8.3 million rentable square feet.
