Storage Ventures, a vertically integrated real estate investment management platform focused on self-storage and related sectors, announced the acquisition of five self-storage assets totaling approximately 273,000 square feet and one 12,000-square-foot retail center in Watertown and Evans Mills, N.Y.
The transaction was supported in part by an investment from publicly traded self-storage specialist SmartStop Self Storage REIT.
The Watertown metropolitan area is situated along Interstate 81, a major thoroughfare connecting Syracuse, N.Y., and Kingston, Ontario, Canada. The area is a market for real estate investment due to its strong quality of life, driven by low cost of living, sense of community, and access to major attractions and outdoor activities. The portfolio is situated near Fort Drum, a U.S. Army base and the largest employer in the region with approximately 19,000 service members and civilian personnel, driving consistent local demand for self-storage and r
