SSTI, a nontraded REIT, adds a total of approximately 1,500 units and 190,000 rentable square feet to its portfolio with the acquisition of the new properties. Earlier this year, SSTI closed on the purchase of three other high-profile storage centers in the same area.

[IMGCAP(2)]H. Michael Schwartz, SSTI's chairman and CEO, describes the centers as "high-value properties with great visibility near major traffic corridors." Both properties have immediate access and visibility from Interstate 75, which transports well over 100,000 cars per day past both locations, providing exposure to a large commuter population, he points out.

The Florence property was built in 1982 and expanded in 1995. It comprises approximately 890 units and 126,300 net rentable square feet on 10 acres and is located approximately nine miles south of Cincinnati. The Erlanger property was built in 1987. It comprises approximately 610 units and 63,700 net rentable square feet on five acres and is located approximately five miles south of Cincinnati.