Strategic Storage Growth Trust III, a private real estate investment trust (REIT) sponsored by SmartStop Self Storage REIT (NYSE:SMA), announced the acquisition of a three-property self-storage portfolio in Spartanburg County, South Carolina.
The portfolio, which totals approximately 179,900 net rentable square feet, includes around 1,580 storage units, the majority of which are climate-controlled, and approximately 120 parking spaces.
The deal was structured through Delaware Statutory Trusts (DSTs).
The facilities, located in high-growth suburban trade areas, benefit from strong household incomes, solid traffic exposure, and favorable population growth trends, making them prime assets in the self-storage market.
The acquisition includes the Boiling Springs facility at 112 McCullugh Road, which spans approximately 53,500 square feet, containing 450 storage units and 66 parking spaces.
The property offers a mix of interior climate-controlled units and exterior drive-up units, with visibility to about 33,000 vehicles daily.
It serves various residential communities in the area, including Boiling Springs, Summit Brown Arrow, and Fingerville.