SEATTLE, Sept. 14, 2020 /PRNewswire/ -- Strategic Storage Growth Trust II, Inc. ("SSGT II"), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today its acquisition of a 4.8 acre parcel of land adjacent to its 660-unit self storage facility in Mill Creek, a suburb of Seattle, Washington. SSGT II intends to expand its self storage facility on the fully entitled property.
"The acquisition of the development-ready parcel of land provides us the opportunity to significantly expand our highly visible facility located near the intersection of Bothell-Everett Highway and 164th Street." said Wayne Johnson, chief investment officer of Strategic Storage Growth Trust II, Inc. "This location is particularly appealing because of its close proximity to a variety of retail services, restaurants and residential space."
The current facility located at 16618 Bothell Everett Highway, comprises approximately 660 units and 65,400 net rentable square feet of storage space. Upon completion of the planned expansion, the new state-of-the-art buildings will add approximately 420 units and 36,400 net rentable square feet of storage space with amenities including interior climate control and drive up access.
This location – positioned south of the Mill Creek retail shops and immediately across from the Laurels at Mill Creek apartment complex – offers convenient storage for a broad range of customers in the communities of Mill Creek, Martha Lake, Osborn Corner, Kennard Corner, Lynnwood, Paine Field-Lake Stickney, and Alderwood Manor.
About Strategic Storage Growth Trust II, Inc. ("SSGT II"): SSGT II is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSGT II focuses on opportunistic self storage properties. SSGT II wholly owns 6 self storage facilities comprising approximately 5,500 self storage units and 480,000 net rentable square feet of storage space, as well as one operating property in a joint venture in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.
About SmartStop Self Storage REIT, Inc. (SmartStop) SmartStop is a self-managed REIT with a fully integrated operations team of approximately 380 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, including Strategic Storage Trust IV, Inc., a public non-traded REIT, and other private programs. SmartStop is the tenth-largest self storage company in the U.S., with approximately $1.6 billion of real estate assets under management, including an owned and managed portfolio of 144 properties in 19 states and Toronto, Canada and comprising approximately 96,000 units and 10.9 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.