Strategic Storage Trust II, Inc. (SST II) Acquires Florida Self Storage Facility for $3.2 Million

TAMPA, FL--(Marketwired - Nov 3, 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 514 units across approximately 50,070 rentable square feet for approximately $3.2 million located at 9823 West Hillsborough Ave. in Tampa.

"The Florida market is ripe with opportunity," said H. Michael Schwartz, chairman and CEO of SST II. "We are pleased with the high quality of storage we can provide to the Tampa market and surrounding region with this acquisition."

Built in 1985, the Florida facility, located in Hillsborough County, is approximately 89% occupied and sits on 3.14 acres. The 12 building facility provides easy access with grade level drive-up and climate control units.

"We will continue to target self storage assets in this market since Tampa is the second most populous city in Florida," said Wayne Johnson, chief investment officer for SST II. "We see value-add possibilities and long-term rate growth opportunities at this Tampa property."

Bayview Advisors represented the buyer, SST-II, and the seller, Rainbow Mini-Storage, Inc.

Tampa is a four-county area composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States.

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 18,500 self storage units and approximately 2 million rentable square feet of storage space. 

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