Strategic Storage Trust Acquires 1,900-Unit Self Storage Facility in Newark

by David Cohen

NEWARK, N.J. — Strategic Storage Trust IV Inc., a public non-traded real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 1,900-unit self-storage facility in Newark. The sales price was undisclosed. The facility consists of approximately 100,000 net rentable square feet, as well as 58,000 net rentable square feet of warehouse space, and is situated on 6.25 acres of land. The seller was undisclosed. Strategic Storage Trust currently owns 16 self storage facilities comprising approximately 11,000 self storage units and 1.3 million net rentable square feet of storage space, as well as two parcels of land under development.

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