SmartStop Self Storage REIT, Inc. Acquires Self Storage Facility in Riverside, California | National company
LADERA RANCH, Calif .– (BUSINESS WIRE) – May 27, 2021 –
SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company with approximately $ 1.7 billion in self-storage assets under management, today announced the acquisition of a self-storage facility in Riverside, California. The facility is the company’s third in the submarket. It is the 29th establishment owned or managed by SmartStop in California and the 154th in North America.
The property is located at 6637 Van Buren Boulevard in Riverside, California, the most populous city of the Inland Empire, Southern California. This prime location offers excellent visibility from Van Buren Road and offers easy access from the Riverside Highway. The property serves the communities of La Sierra, Corona, Eastvale, Ramona and Jurupa Valley and is located next to the Riverside Municipal Airport. The property’s 379 units and 71 RV parking spaces span approximately 69,800 square feet. The property offers its guests a variety of amenities, including an enclosed cargo area, state-of-the-art security systems, keypad access, and access to large trucks.
“This is a tremendous asset in an undersupplied submarket with a dense and rapidly growing population,” said Wayne Johnson, president and chief investment officer of SmartStop. “We know Riverside Market intimately, a short drive from our head office in Ladera Ranch. Along with an RV parking component, this new facility offers customers a complementary product type to our two neighboring SmartStop facilities, which we believe will provide significant operating synergies.
About SmartStop Self Storage REIT, Inc. (SmartStop)
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. SmartStop is the tenth largest self-storage company in the United States, with approximately $ 1.7 billion in real estate assets under management, including a owned and managed portfolio of 154 properties in 19 states and Ontario, Canada, and comprising approximately 104,000 units and 11.8 million square foot rental units. SmartStop and its affiliates own or manage 17 self-storage properties in operation in Ontario, Canada, totaling approximately 14,300 units and 1.5 million rentable square feet. Additional information about SmartStop is available at www.smartstopselfstorage.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210527005912/en/
CONTACT: David Corak
Vice President of Corporate Finance
SmartStop Self Storage REIT, Inc.
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA
INDUSTRY KEYWORD: COMMERCIAL BUILDING AND REAL ESTATE CONSTRUCTION AND REIT
SOURCE: SmartStop Self Storage REIT, Inc.
Copyright Business Wire 2021.
PUB: 05/27/2021 17:22 / DISC: 05/27/2021 17:22
Copyright Business Wire 2021.