FOLEY, AL--(Marketwired - Sep 16, 2015) - Strategic Storage Trust II, Inc. (SST II) -- a public non-traded REIT that focuses on stabilized self storage properties -- recently purchased a self storage facility consisting of approximately 1,050 units across 142,000 rentable square feet and 78 boat/RV spaces for approximately $8 million located at 8141 Highway 59 S. in the Gulf Coast city of Foley, Ala.
"We are pleased to close our 32nd acquisition into SST II," said H. Michael Schwartz, chairman and CEO of SST II.
Built in 1985, the Alabama facility, which is located in Baldwin County, is approximately 91% occupied and was upgraded/expanded in 1996 and 2006. This facility provides easy access with grade level drive-up and climate control units. In addition, this property enjoys significant traffic flow and visibility in close proximity to regional retailers.
"Our #1 goal for this 23-building, 10-acre site is to complete capital improvements, including new roofs and drive areas, which will bring the facility to a new level," said Wayne Johnson, chief investment officer for SST II. "We will also focus on customer service, efficient management and local marketing, which will improve operational performance."
About Strategic Storage Trust II, Inc. (SST II)
Strategic Storage Trust II, Inc. (SST II) is a public non-traded REIT that focuses on stabilized self storage properties. The SST II portfolio includes approximately 18,000 self storage units and approximately 2 million rentable square feet of storage space.
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