Strategic Storage Trust IV Inc. (SST IV), a public, non-traded, real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased Van Buren Self Storage in Riverside, Calif. The 2.3-acre property at 3167 Van Buren Blvd. comprises 55,000 rentable square feet in 460 units, according to a press release. Features include controlled access, vehicle storage, video cameras, and a retail center that sells moving and packing supplies.
“We believe the property will be an exceptional addition to the rapidly growing portfolio of Strategic Storage Trust IV,” said Wayne Johnson, chief investment officer. “Located just two blocks south of [California State Route 91], this asset is on a major artery serving the city of Riverside and should benefit operationally by being in proximity to other SmartStop-managed facilities in the area.”
SmartStop also operates facilities at 7211 Arlington Ave. and 6667 Van Buren Blvd. in Riverside. It manages a total of 113 facilities in Toronto and the U.S, with a portfolio comprising approximately 8.2 million rentable square feet.
Based in Maryland, SST IV owns three properties comprising 182,000 net rentable square feet of storage space in 1,540 units. It intends to invest in a portfolio of self-storage properties in Canada and the United States.
