SSGT’s new building (Photo courtesy of SSGT)
SSGT acquires Phoenix self-storage development
Strategic Storage Growth Trust, Inc. (SSGT), closed on its first “certificate of occupancy” transaction, a South Mountain Village area property in Phoenix.
“We are excited to complete our first top-of-the-line, brand-new facility in a prime market like Phoenix,” said H. Michael Schwartz, chairman and CEO of SSGT. “We are already receiving a high degree of interest from local customers, so we expect our opening to be a huge success.”
The developer, Phoenix-based Glacier Development, built the two-story facility totaling approximately 94,000 net rentable square-feet. SSGT will lease up the approximately 840 unit self storage facility.
Located at 15000 E. Baseline Rd., the new building will be 80 percent climate-controlled, and also offers drive-up units and covered RV spaces.
“This newly built facility will provide class A storage to the growing retail and residential community surrounding the site,” said Wayne Johnson, chief investment officer at SSGT.
South Mountain Village is one of the fourteen planning areas as designated by the Phoenix City Council.