Strategic Storage Growth Trust III (SSGT III), a private REIT sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a storage facility in Tamarac, Fla.
The facility spans approximately 69,000 net rentable square feet and features a five-story building with approximately 760 interior, climate-controlled storage units.
The location is surrounded by mainly residential homes and apartments with strong visibility along West McNab Road. The strategic location boasts significant growth potential, with more than 3,000 housing starts in the planning stages within a three-mile radius, making it a prime location for SSGT III’s acquisition strategy. Furthermore, the area experiences a robust seasonal population. This newly acquired location is well-positioned to serve the neighborhoods of North Lauderdale, Sunrise, Margate, Palm Aire, Lauderdale Lakes, Coconut Creek and Coral Springs.
Wayne Johnson, CIO of SSGT III, said, “The addition of this class A