Strategic Storage Trust II Continues Expansion with Sonoma Acquisition
The 24-building facility is located in downtown Sonoma and offers approximately 340 units.
By Adriana Pop
Sonoma, Calif.–Strategic Storage Trust II, which is sponsored by SmartStop Asset Management LLC, has acquired a self-storage facility located in downtown Sonoma, Calif. The property offers approximately 340 units and 37,800 rentable square feet.
19240 Highway 12 in Sonoma, Calif.
“The Sonoma self storage acquisition gives us the best location in a market that is over 96 percent occupied,” stated Michael Schwartz, chairman & CEO of SST II. “Though the property is highly occupied, we believe there is significant trapped value to be unlocked through a revenue management program, operating efficiencies and capital improvements.”
Located at 19240 Highway 12, the 24-building Sonoma facility sits on approximately 1.97 acres and is approximately 95 percent occupied. The property was built in 1984 and offers drive-up and RV units.
Earlier this month, Strategic Storage Trust II also expanded with the acquisition of an 11-property portfolio totaling approximately 9,540 units. The facilities are located in Florida and Maryland and offer a combined 985,500 rentable square feet.
Image via Google Street View
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