As reported earlier, on September 17, 2010, the Registrant, through a wholly-owned subsidiary of the Registrant's operating partnership, entered into purchase and sale agreements with unaffiliated third parties for the acquisition of four self storage facilities located in the Chicago, Illinois greater metropolitan area (the "Chicago Portfolio"). On October 22, 2010, the Registrant closed on two of the properties in the Chicago Portfolio, the Chicago - 95th Street property and the Chicago - Western Ave. property. On October 26, 2010, the Registrant closed on the Chicago - Ogden Ave. property. The Registrant currently expects to close on the final Chicago Portfolio property sometime in the month of November.

        The Registrant purchased the Chicago - 95th Street property for a purchase price of $6.3 million, plus closing costs and acquisition fees. The Registrant purchased the Chicago - Western Ave. property for a purchase price of $1.4 million, plus closing costs and acquisition fees. The Registrant purchased the Chicago - Ogden Ave. property for a purchase price of $4.0 million, plus closing costs and acquisition fees. The Registrant paid its advisor, Strategic Storage Advisor, LLC, a total of $292,500 in acquisition fees in connection with the acquisition of these properties. The Registrant funded these acquisitions using net proceeds from its initial public offering and debt proceeds from a group of loans previously obtained from The Prudential Insurance Company of America that are secured by a first priority mortgage or deed of trust on eleven of the properties in the Registrant's existing portfolio.

        The Chicago - 95th St. property is an approximately 690-unit self storage facility that sits on approximately 4.6 acres and contains approximately 72,000 rentable square feet of self storage space, located at 1000 East 95th Street, Chicago, Illinois. It was constructed in 2002.

        The Chicago - Western Ave. property is an approximately 590-unit self storage facility that sits on approximately 2.7 acres and contains approximately 59,000 rentable square feet of self storage space, located at 2244 S. Western Avenue, Chicago, Illinois. The property was converted to its current use in 2004.

        The Chicago - Ogden Ave. property contains a single-story building comprised of approximately 65,000 rentable square feet of self storage space and approximately 85,000 rentable square feet of industrial warehouse/office space. The facility sits on approximately 10.4 acres and contains approximately 750 units of self storage space, located at 5701 West Ogden Avenue, Cicero, Illinois. The self storage component of the building was converted to its current use in 2002.

99.1         Press Release Announcing the Acquisition of Properties in the Chicago Portfolio