Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private company sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”) that intends to qualify as a real estate investment trust, announced the acquisition of an approximately 78,000 net rentable square foot storage facility located at 18301 N. Tamiami Trail in North Fort Myers, Florida. The property consists of approximately 780 interior, climate-controlled storage units.
Initially constructed in 1955 as a single-tenant industrial warehouse, the facility was converted to storage in October 2022. With strong visibility along N. Tamiami Trail, the single-building, single-story property sees a high traffic volume, with approximately 33,000 vehicles passing by daily. Additionally, more than 3,500 housing starts are in the planning stages within three miles of the store’s location, making it a prime location for SSGT III’s acquisition strategy.
Commenting on the acquisition, Wayne Johnson, Chief Investment Officer of SSGT III, said, “We are thrilled to expand the SSGT III platform with this acquisition in North Fort Myers. This property is a great addition to our portfolio, providing high-quality storage units in a prime location with excellent visibility and access to the surrounding communities.”
The facility is located in proximity to several neighborhoods within five miles, including Porto Vista, Lake Fairways, Coral Lakes, and Sabal Springs. The storage facility is expected to attract many customers from these neighborhoods with its convenient location and high-quality units.
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