SOURCE: Strategic Storage Trust, Inc. (SSTI)

Strategic Storage Trust, Inc. (SSTI)

March 10, 2010 19:46 ET

Strategic Storage Trust, Inc. Expands in Florida

GULF BREEZE, FL--(Marketwire - March 10, 2010) - In an all-cash transaction, Strategic Storage Trust, Inc. (SSTI) -- a publicly registered non-traded REIT targeting the self storage market -- recently acquired an approximately 280-unit self storage facility located in Gulf Breeze, Fla.

"This acquisition is an opportunity to complement our existing nearby facility with the addition of large drive-up units, boat & RV parking and truck rentals," said H. Michael Schwartz, SSTI's chairman and Chief Executive Officer. 

The property located at 4761 Gulf Breeze Parkway was developed in 2004 and 2005 and contains approximately 39,750 net rentable square feet on 3.45 acres. The site is 12 miles southeast of Pensacola, Fla., 8.5 miles west of an existing SSTI property in the City of Gulf Breeze, and located between the Eglin Air Force Base and the Pensacola Naval Air Station.

SSTI currently owns three other self storage facilities in Florida:

  • 16400 State Road 84 in Weston, Fla.: A four-story building offering approximately 650 climate-controlled units located 10 miles west of Ft. Lauderdale. 
  • 15 McClure Drive in Gulf Breeze, Fla.: Approximately 700 units located just north of the intersection of U.S. Highway 98 and Pensacola Beach Boulevard.
  • 1396 Capital Circle NE, Tallahassee, Fla.: A single-story drive-up facility offering approximately 1,550 units located east of downtown Tallahassee.

Since the launch of SSTI two years ago, SSTI's portfolio of wholly-owned properties has expanded to include 29 properties in 14 states (Alabama, Arizona, California, Florida, Georgia, Kentucky, Mississippi, Nevada, New Jersey, Pennsylvania, South Carolina, Tennessee, Texas and Virginia).

The seller, Seagreen Marine, Inc, was represented by National Real Estate Auction Group, LLC. 

About Strategic Storage Trust, Inc.

SSTI is a publicly registered ($1 billion of common stock registered) non-traded REIT with a portfolio that currently includes approximately 19,500 self storage units and 2.5 million rentable square feet of storage space. SSTI's sponsor is Strategic Capital Holdings, which manages a growing portfolio of over 6.0 million square feet of commercial properties, including 4.4 million square feet of self storage facilities, with a combined market value of over $652 million. For more information about SSTI, please call 949-429-6600 or visit www.strategicstoragetrust.com.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties relating to the public offering of our common stock; uncertainties related to the timing and availability of distributions; and other risk factors as outlined in the Company's prospectus, as amended from time to time. This is neither an offer nor a solicitation to purchase securities.

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