Strategic Storage Trust IV Acquires 780-Unit Self Storage Facility Near Tacoma, Wash.
TACOMA, Wash. – (May 23, 2018) – Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today its acquisition of a 780-unit self storage facility in the Tacoma suburb of Puyallup, Wash.
“This self storage facility is prominently located between the area’s two primary highway corridors, through which thousands of commuters travel each day,” said Wayne Johnson, chief investment officer. “Adding to its visibility and accessibility, the facility is situated just 200 yards away from a major grocery-anchored retail center. This acquisition is well-aligned with our investment criteria, and we expect it to be an excellent addition to our growing portfolio of self storage assets.”
Located at 1401 N. Meridian Ave., the facility is situated at the corner of the intersection of North Meridian and Highway 167. With approximately 85,000 net rentable square feet, the property features 13 single-story drive up buildings and a two-story leasing office with an onsite manager’s apartment. Constructed in 1990, the facility was 94 percent leased at the time of acquisition.
About Strategic Storage Trust IV, Inc. (SST IV)
SST IV is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017. SST IV focuses on the acquisition of stabilized and growth self storage properties. SST IV owns five properties comprising approximately 2,900 self storage units and approximately 324,500 net rentable square feet of storage space.
About SmartStop Asset Management, LLC (SmartStop)
SmartStop is a diversified real estate company focused on self storage, student housing
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties
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