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

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H. Michael Schwartz, SSTI’s chairman and CEO, commentedregarding the acquisition: “This is a newer building in a marketthat we see as having long-term potential as the economy recoversbecause of its historic strong population growth, a favorableclimate for business and a greater average regional income than therest of the country.” SSTI, based in Ladera Ranch, CA, plans oncontinued expansion in the Las Vegas market, Schwartz said.

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

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

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