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Strategic Storage Trust Buys Hampton Facility for $4.9M

Quality Properties Asset Management Sells 645 Units Near Norfolk Naval Base
August 3, 2011
Strategic Storage Trust Inc. acquired a self-storage facility at 815 Lasalle Ave. in Hampton, VA, from Quality Properties Asset Management Co. for $4.9 million, or about $7,597 per unit. The new owner will rebrand the facility as SmartStop Self Storage.

The two-story, 70,175 square-foot industrial building was built in 2007 and is in the Copeland Industrial submarket. It is a gated property, complete with security cameras, and has 645 storage units. The complex is also neighbor to the world’s largest naval station, known as Norfolk Naval Base.

Kenneth Penrose of Cushman & Wakefield/Thalhimer represented the seller. The buyer was self-represented.

See CoStar COMPS #2147962 for more information.

Editor's note: The story was updated on 8/19/11 to identify SmartStop Self Storage as the new name of the property.
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