Strategic Storage Trust X Announces First Portfolio Acquisition With Murfreesboro, Tennessee Storage Facility
Strategic Storage Trust, a private real estate investment vehicle that intends to qualify as a real estate investment trust (REIT) and is sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), has officially completed its inaugural property acquisition. The newly acquired asset is a modern, well-located self-storage facility situated at 1323 NW Broad Street in Murfreesboro, Tennessee, marking a significant milestone as SST X begins building its investment portfolio.
The acquisition reflects the strategic alignment between SmartStop and SST X. SmartStop originally acquired the Murfreesboro property in February 2025 with a clear intention to transfer ownership to SST X as part of its long-term portfolio planning strategy. This strategic transaction highlights SmartStop’s ability to identify, develop, and stabilize top-tier storage assets that meet the investment profile and performance objectives of SST X and its future investor base.
Facility Overview and Market Positioning
The Murfreesboro facility offers approximately 62,100 net rentable square feet, containing roughly 470 individual storage units. The configuration includes approximately 380 drive-up accessible units—an increasingly desirable feature for customers who value convenience and quick access—as well as approximately six RV-specific storage spaces. The property is comprised of 12 single-story buildings positioned across a thoughtfully designed layout, enhancing mobility, security, and customer ease of use.
Located within one of Murfreesboro’s busiest commercial corridors, the facility benefits from significant daily exposure, with an estimated traffic count of approximately 21,390 vehicles per day. This high-visibility positioning ensures strong brand presence, accessibility for both residential and commercial users, and a steady flow of potential customers from surrounding retail and residential activity.
A High-Growth Market With Strong Demand for Storage
Murfreesboro, part of the rapidly expanding Greater Nashville metropolitan region, has become a highly desirable destination for residents and businesses alike. The area surrounding the property continues to experience exceptional population growth, with an anticipated increase of 9.1% between 2022 and 2027 within just a three-mile radius. This growth trajectory significantly outpaces national averages and fuels organic demand for flexible storage options driven by residential transitions, business expansion, and overall market density.
The facility is positioned to serve a wide range of nearby residential communities, including Blackman Farm, Blackman Meadows, East Woods, Hillwood, Providence Pointe, Salem Creek, Southern Meadows, The Cloister, Westlawn, and Woods Edge. These neighborhoods represent an important customer base comprised of homeowners, renters, families, and small business operators who rely on storage solutions for seasonal items, household transitions, renovation projects, commercial inventory, and recreational equipment.
The demographic trends throughout Rutherford County and the broader Nashville region continue to demonstrate a strong market for self-storage operators. Drivers such as new construction, continued relocation activity, university housing pressures, and the region’s expanding workforce create consistent and dependable demand—key factors that support the long-term investment rationale of this acquisition.
Strategic Investment Structure Designed to Deliver Long-Term Value
SST X operates under a perpetual net asset value (NAV) REIT structure, designed to appeal to investors seeking a professionally managed, diversified real estate exposure without the constraints of a predefined liquidation date. The model enables monthly NAV-based valuations, providing transparency and responsiveness to current market conditions. This structure is intended to help reduce market timing risks and deliver stable income generation and long-term value appreciation.
Through disciplined capital deployment and a focus on high-quality self-storage assets, SST X aims to construct a geographically diverse portfolio positioned to benefit from resilient industry fundamentals. Self-storage continues to be recognized as one of the strongest performing real estate asset classes over multiple economic cycles due to its counter-cyclical demand patterns, low operational risk profile, and stable cash flows.
Leadership Perspective
“The acquisition of this Murfreesboro property marks a milestone as the first addition to the SST X portfolio,” said H. Michael Schwartz, President and CEO of SST X. “This facility is exceptionally well-positioned within a dynamic and expanding market that reflects the type of long-term growth opportunities we actively pursue. The surrounding area is experiencing strong economic and population expansion, creating sustained demand for premium storage options. We’re proud to introduce SST X with an asset that exemplifies our disciplined approach to investing and our ongoing commitment to delivering value through well-located, high-quality self-storage properties.”
Schwartz emphasized that this foundational acquisition reflects the broader strategy of SST X as it begins building a long-term portfolio, noting that the organization plans to selectively pursue additional assets in markets that demonstrate compelling demographic and demand indicators.
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