Strategic Storage Trust II Acquires Self Storage Facility in Alabama for $8M
FOLEY, ALA. — Strategic Storage Trust II Inc., a non-traded self storage REIT, has purchased a 1,050-unit self storage facility located at 8141 Highway 59 S. in Foley for $8 million. The property spans 142,000 square feet and features 78 boat/RV spaces, climate controlled units and grade level drive up. Built in 1985 and renovated in 1996 and 2006, the asset was 91 percent occupied at the time of sale. The REIT plans to make capital improvements to the 10-acre facility, including new roofs and drive areas. Strategic Storage Trust’s portfolio includes 18,000 self storage units spanning approximately 2 million square feet.