SOURCE: SmartStop Asset Management

SmartStop Asset Management

March 03, 2016 17:06 ET

$35 Million Mixed-Use Facility More Than Halfway Complete; 85 Percent of Weekday Open Hours Already Reserved at Ladera Sports Center

Facility Will Hold Grand Opening This Summer

LADERA RANCH, CA--(Marketwired - Mar 3, 2016) -  The $35 million, solar-powered mixed-use facility currently under construction in Ladera Ranch, Calif. is nearly 60 percent complete. The approximately 120,000-square-foot complex, located at 2 Terrace Road in Ladera Ranch, Calif., will include the Ladera Sports Center -- a 63,400-square-foot gymnasium. Eighty-five percent of the sports center's weekday open hours have already been reserved by Southern California basketball, volleyball and other sports organizations. A grand opening celebration for the mixed-use facility will be held this summer, and the sports center will begin taking reservations for weekend tournament rentals in May.

"My family and I are thrilled about developing a unique multi-faceted building that is generating a tremendous response from the Ladera and sports community," said H. Michael Schwartz, CEO and chairman of SmartStop Asset Management, who designed, financed and is developing the facility. "We look forward to the upcoming grand opening."

Designed and built from the ground up, the mixed-use complex will also include a 42,000-square-foot storage facility with approximately 230 units owned and operated by ExtraSpace Storage; a private fitness center; and more than 16,000 square feet of office space for SmartStop Asset Management's expanding headquarters.

Currently, the facility's foundation, steel beam skeleton, decks and roofing are complete. The sports center's volleyball and basketball equipment and flooring are being delivered this month, and the exterior walls are being constructed.

"The new mixed-use facility is progressing quickly, and the community is excited," said Ladera Sports Center CEO Steve Williams. "The idea of a brand new, state-of-the-art sports center in South Orange County is getting a lot of traction. Several sports organizations want to be included, so we're trying to accommodate as many teams into the space as possible."

Ladera Ranch Strength and Conditioning and Prime Volleyball Academy are the most recent additions to Ladera Sports Center's roster. Other long-term commitments include Team Nikos Basketball Academy, Ladera Ranch National Junior Basketball, the San Clemente Volleyball Club and Little Rookies Youth Sports.

Ladera Sports Center will feature 48,750 square feet of court spaces -- eight state-of-the-art basketball and volleyball courts -- that have air-conditioning, noise decibel reduction systems, superior wood flooring and ceiling-mounted volleyball nets with ample spectator seats per court. A 190-foot-long steel roof truss structure spans the court areas, creating a column-free, safe playing environment.

Here are a few fun construction facts about Ladera Sports Center:

  • 28.3 million pounds of concrete is being used to construct the project -enough to fill approximately 777 cement mixing trucks
  • If the high-end wood boards used for the sport courts were stacked end to end, they would span 46.66 miles - equivalent to walking from the sports center to Catalina Island
  • The steel used for this project (1,100 tons) weighs the same as 489 white rhinoceroses
  • The eco-friendly facility includes a solar cell system that will produce 472,200 kWh of energy per year - enough electricity to power 43 homes for a year
  • The photovoltaic system reduces the center's greenhouse gas emission by 326 metric tons, the equivalent of 68.5 passenger cars over the course of a year

The mixed-use facility is being built on approximately 3.5 acres on Terrace Road near the intersection of Crown Valley Parkway and Antonio Parkway in Southern California's Ladera Ranch.

About SmartStop Asset Management, LLC
Ladera Ranch-based SmartStop Asset Management, LLC is a diversified real estate company with a managed portfolio that currently includes approximately 38,000 self storage units and approximately 4.2 million rentable square feet. The company is the asset manager for 61 self storage facilities located throughout the United States and Toronto, Canada. SmartStop Asset Management is the sponsor of SST II and Strategic Storage Growth Trust, Inc. (SSGT), a public non-traded REIT focused on opportunistic self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. In 2015, key executives at Smartstop Asset Management negotiated the sale of SmartStop Self Storage Inc. (Smartstop), a fully integrated, self-administered and self-managed self storage company, owning and/or operating 170 self storage properties in 21 states and Toronto, Canada, to Extra Space Storage Inc., the second-largest storage operator in the United States, in a merger transaction with SmartStop having an enterprise value of $1.4 billion.

About Ladera Sports Center
Founded in 2015, Ladera Sports Center is a multi-sport facility dedicated to providing top-class indoor programs and events. The center enhances experiences by partnering with customers to facilitate sporting events, programs and rentals. The goal of the center is to improve young athletes' and parents' experiences and promote healthy lifestyles for both youth and adults. The state-of-the-art facility offers TV monitors so spectators can view live games from different angles, video recording during games and practices, and live webcasts that stream games across the Internet. Learn more at www.laderasportscenter.com.

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