Jul
15

Charleston Self Storage Facility Sold

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Strategic Storage Trust, Inc.,  a publicly registered non-traded REIT investing in self storage — has purchased an approximately 97,000 square foot, 630-unit self-storage facility located at 8550 Rivers Avenue in North Charleston, S.C. for approximately $6.6 million. This is SSTI’s fourth Charleston self-storage acquisition, which brings the total number of units owned by SSTI in Charleston to approximately 2,000 units. Currently named Admiral Self Storage, this property will be re-branded under the SmartStop® Self Storage trade name.

Developed in 1974 as a retail property, then converted to self storage in 1999, the two-building self-storage facility offers two RV canopies, surveillance cameras, climate-controlled units, keypad entry and an office for onsite management.

“This 10-acre Charleston site includes an expansion opportunity, which consists of additional RV/boat parking along with additional drive-up self storage,” said H. Michael Schwartz, chairman and CEO of SSTI.

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