Strategic Storage Trust VI, Inc., a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today the acquisition of a newly constructed 650-unit self storage facility in Phoenix, Arizona. This is the fifth acquisition in the newly formed SST VI and the third property owned by SST VI in the Phoenix market.
Located at 4730 E. Baseline Road at the intersection of Baseline Road and 48th Street, the newly constructed facility is composed of approximately 68,500 square feet of rental space. This location is well positioned to serve the areas of Knoell Gardens, South Mountain, Ahwatukee, and South Tempe. It is easily accessible from I-10 and is within blocks of Arizona Mills and Arizona Grand Resort. Students attending Arizona State University will also be able to take advantage of this new location. The facility has desirable amenities including a sophisticated security system with high definition camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground floor drive up units, and interior climate-controlled units with spacious elevators for upper level units.
“The facility is located directly across the street from one of our existing stores, which has performed exceptionally well,” said Wayne Johnson, Chief Investment Officer of SST VI. “We are extremely pleased to add this high quality property to our portfolio at SST VI and expand our presence both in Phoenix and this high growth sub-market.”
SST VI is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SST VI’s primary investment strategy is to invest in income producing and growth self storage facilities and related self storage real estate investments in the United States and Canada.
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 400 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of November 30, 2021, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 160 properties in 19 states and Ontario, Canada and comprising approximately 109,000 units and 12.3 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet.
