LAS VEGAS-Orange County, CA-based Strategic Storage Trust Inc. has acquired its third property in the Las Vegas market, a 700-unit facility in North Las Vegas. The non-traded REIT, which specializes in the self-storage industry, will says that it will rebrand the property with its SmartStop name.

H. Michael Schwartz, SSTI’s chairman and CEO, commented regarding the acquisition: “This is a newer building in a market that we see as having long-term potential as the economy recovers because of its historic strong population growth, a favorable climate for business and a greater average regional income than the rest of the country.” SSTI, based in Ladera Ranch, CA, plans on continued expansion in the Las Vegas market, Schwartz said.

The property is located at 3155 West Ann Rd. in North Las Vegas and contains approximately 94,000 rentable square feet on approximately 3.23 acres. It is just north of Las Vegas and approximately four miles west of US Route 95, approximately seven miles east of Interstate 15. Built in 2005, the two-story building includes an office and apartment for a resident manager. Amenities include surveillance cameras, individual locks, climate control and keypad entry.

Wayne Johnson, senior vice president of acquisitions for SSTI, says that the property “has an advantage in being located adjacent to high traffic-generating retailers including Wal-Mart, Albertsons and Fitness 19.” SSTI’s announcement regarding the deal notes that SSTI’s two other locations in the metropolitan area include 8501 W. Charleston Blvd., consisting of two one-story buildings with 190 units; and 3825 S. Durango Dr., a two-story building with 520 units.