A California company has purchased two self-storage facilities near The Villages.
Strategic Storage Growth Trust III, Inc. of Ladera Ranch, Calif. announced the purchase this past week.
New signage has already gone up at the former Rolling Acres Road Storage which is now known as SmartStop Self Storage. The property near the intersection of Rolling Acres Road and County Road 466 was once a popular driving range operated by local golf pro Michael Girard. He won permission in 2013 from the Town of Lady to convert more than 12 acres of lush green driving range to the self-storage units. Strategic Storage Growth Trust III has now purchased the Rolling Acres Road storage facility which includes 90,000 square feet of rentable space and 750 units with a mix of interior climate-controlled units, climate-controlled and non-climate-controlled drive-up units, and more than 120 RV and boat spaces.
The company also purchased 44 Self Storage located at 5688 State Road 44 in Wildwood. It opened in December 2018. It offers 97,400 square feet of rental space and 1,010 units with a mix of climate-controlled interior and non-climate-controlled exterior units.
“We are extremely excited to enter The Villages market with the Lady Lake and Wildwood facilities,” said Wayne Johnson, chief investment officer of SSGT III. “This portfolio offers a solid opportunity to enter a high-growth market in central Florida, and we expect that the addition of institutional management and marketing to these properties will have a positive impact for stockholders.”
SmartStop has an owned or managed portfolio of 174 properties in 22 states and Ontario, Canada, comprising approximately 119,200 units and 13.5 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the greater Toronto area, which total approximately 16,200 units and 1.6 million rentable square feet.
