Strategic Storage Trust II Inc. recently announced that it has purchased a facility for self-storage in Lancaster.
At a cost of $4.7m, the property has 71,900 square feet of storage space that is rentable and divided up into 550 units. The facility is comprised of ten buildings on close to five acres of land. The storage units are of both the interior and drive-up kinds, and there is parking on site for vehicles.
According to the CEO and Chairman of Strategic Storage Trust II Inc., H. Michael Schwartz, the company already owns another property in Lancaster about 100 yards away. Having this new property will provide an economy of scale when it comes to costs, as expenses will be able to be combined for the two facilities.
In addition, the two properties offer a different mix of units so they will be complementary to each other, which Schwartz believes will be a benefit in terms of revenue, making the whole greater than the sum of its parts.
The company already owns eight other self-storage facilities in the metropolitan area of Los Angeles. Altogether, it has 2.2 million rentable square feet of storage space spread out over 20,000 self-storage units.
The use of Mailing services would be one way that the company can inform those in the Lancaster area of the new facility.
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