Strategic Storage Trust IV Acquires Self Storage Facility in Newark, New Jersey
NEWARK, N.J. – (March 28, 2019) – Strategic Storage Trust IV, Inc. (SST IV), a public non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced today the acquisition of an approximately 1,900-unit self storage facility located in Newark, New Jersey.
“This well-occupied facility is comprised of approximately 100,000 net rentable square feet, as well as 58,000 net rentable square feet of warehouse space, and is situated on 6.25 acres of land. The trade area is densely populated with a lower square foot supply per capita,” said Wayne Johnson, chief investment officer. “We intend to significantly upgrade the offices, the interiors and exteriors of the facility and implement an aggressive marketing campaign. This facility aligns well with our investment criteria and we expect it to be a valuable addition to Strategic Storage Trust IV’s rapidly growing portfolio.”
About Strategic Storage Trust IV, Inc. (SST IV)
SST IV is a public non-traded REIT that focuses on the acquisition of stabilized and growth self storage properties. SST IV owns 16 self storage facilities comprising approximately 11,000 self storage units and 1.3 million net rentable square feet of storage space, as well as two parcels of land under development.
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