Strategic Storage Growth Trust Inc Acquires Self Storage Facility On Progress Blvd

The self-storage property involved in the transaction is located at 9811 Progress Blvd in Riverview, Florida. The asset comprises a newly constructed 695-unit facility spread across three buildings on 3.4 acres of land. Situated alongside Highway 301, the multistory property covers approximately 54,000 square feet and offers units ranging from 25 to 200 square feet. Amenities include climate control, video surveillance, computerized gate or lobby access, and keypad entry to individual units.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: Not specified
• Market: Riverview
• Buyer: Strategic Storage Growth Trust Inc
• Buyer's Representative: Luke Elliott (Cushman & Wakefield), Michael "Mike" Mele (Cushman & Wakefield)
• Seller: FCA

The deal was facilitated by Marcus & Millichap representing both the buyer and the seller. The focus of Strategic Storage Growth Trust Inc, the acquiring entity, is on actively managing self-storage properties to enhance its portfolio. Wayne Johnson, the chief investment officer at SmartStop Self Storage, highlighted the property's Class A status, strategic location in an area with growing self-storage demand, and attractive amenities package designed to meet customer needs. The brokerage team from Marcus & Millichap, consisting of Michael Mele and Luke Elliott, specializes in self-storage investments.