SmartStop Self Storage Expands Its Footprint in Tennessee
LADERA RANCH, CALIF. – SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a leading self-managed and fully integrated self-storage real estate investment trust, is thrilled to announce its entry into the Tennessee market with the acquisition of a storage facility in Murfreesboro. The newly acquired property, situated at 1323 NW Broad Street, boasts an impressive size of approximately 62,100 net rentable square feet.
The Acquired Facility
This newly added facility to the SmartStop portfolio comprises approximately 471 storage units. Among these units, around 384 are drive-up units, offering the convenience of easy access for customers. Additionally, the facility boasts six climate-controlled units, catering to those requiring temperature-sensitive storage solutions.
Expansion into Tennessee
This strategic acquisition marks SmartStop’s entry into the Tennessee market, strengthening its presence in the self-storage industry. By expanding its footprint into this region, the Company aims to cater to the growing demand for self-storage solutions in Murfreesboro and its surrounding areas.
Impact on the Local Community
The addition of this facility to SmartStop’s portfolio will not only provide residents and businesses of Murfreesboro with more self-storage options but also contribute to the local economy. The acquisition will create new jobs, from on-site managers to maintenance personnel, ultimately boosting employment opportunities in the area.
Impact on the Self-Storage Industry
The self-storage industry has been experiencing steady growth in recent years, and SmartStop’s expansion into Tennessee is a testament to this trend. With the acquisition of this facility, the Company is poised to capture a larger share of the market and meet the increasing demand for self-storage solutions in the region.
Future Plans
SmartStop continues to explore opportunities for growth in the self-storage sector. With a proven track record of successful acquisitions and a commitment to providing high-quality self-storage solutions, the Company is well-positioned to expand its footprint in new markets and further solidify its presence in existing ones.
- SmartStop Self Storage REIT announces acquisition of a new facility in Murfreesboro, Tennessee
- The facility spans approximately 62,100 net rentable square feet and comprises approximately 471 storage units
- Expansion into the Tennessee market strengthens SmartStop’s presence in the self-storage industry
- New jobs will be created in Murfreesboro as a result of the acquisition
- SmartStop continues to explore opportunities for growth in the self-storage sector
Conclusion
SmartStop Self Storage REIT’s acquisition of a new facility in Murfreesboro, Tennessee, marks an exciting expansion into the Tennessee market. This strategic move not only strengthens the Company’s presence in the self-storage industry but also creates new jobs and provides residents and businesses with more self-storage options. With a commitment to growth and a proven track record of success, SmartStop continues to explore opportunities for expansion and solidify its position as a leading self-storage provider.
