SmartStop Self Storage Buys Denver Facility

SmartStop Self Storage REIT has acquired a Class A 740-unit facility in Aurora, Colo. Guardian Storage sold the property for $14.7 million, according to Yardi Matrix information. 

Completed in 2019, the facility consists of three buildings, each three stories high, amounting to 87,450 rentable square feet. The 4-acre property is at 3633 N. Walden Circle, some 17 miles east of downtown Denver, serving the Aurora Highlands, Northeast Aurora, Tower Triangle, Friendly Village, Northfield and Northeast Denver neighborhoods.  

The gated self storage facility features a mix of non- and climate-controlled drive-up units ranging from 25 to 300 square feet. The property is one of the 12 available within a 3-mile radius, offering residents 8.8 rentable square feet per capita, the same data provider shows.

Denver’s self storage supply pipeline in December equated to 1.5 percent of its existing stock, marking a 0.3 percent improvement over the month, according to a recent Yardi Matrix report. Combined advertised rates averaged $16.63, down by 0.8 percent when compared to November.