LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), is pleased to announce the acquisition of its newest self-storage facility in St. Albert, Alberta, Canada.
Located at 8 Inglewood Drive in St. Albert, Alberta, this newly constructed two-building facility encompasses approximately 36,900 net rentable square feet. It includes approximately 310 units, offering interior climate-controlled and drive-up units. The facility features an advanced keyless entry system that ensures heightened security and convenient access for customers. This cutting-edge technology significantly improves the overall customer experience.
Strategically positioned near the St. Albert Trail, a major thoroughfare connecting St. Albert to Edmonton, this facility enjoys excellent visibility from high traffic. The area’s above-average median household income within a five-mile radius further strengthens its ideal location. With residential rental units expected to double in the surrounding area in the next few years, this facility is well-positioned to serve a variety of neighborhoods, including Inglewood, Oakmont, Woodlands, Pineview, Braeside, Sturgeon, Mission, Lacombe Park, Erin Ridge, Forest Lawn, Grandin, North Ridge, and Deer Ridge.
A significant expansion is planned for the first half of 2025, with completion anticipated in the first half of 2026. This expansion will add approximately seven drive-up buildings and 640 units, expanding the total combined net rentable square feet to approximately 70,500 square feet. The additional capacity will meet growing demand, demonstrating our commitment to growth and exceptional customer service.
H. Michael Schwartz, CEO and President of SSGT III, expressed his enthusiasm for this new addition to the company’s portfolio. “The acquisition of the St. Albert facility represents a significant milestone as it serves as the first property acquired in the greater Edmonton area and province of Alberta for SSGT III. We are excited to offer the community a top-tier storage solution that combines convenience, security, and accessibility.”
About Strategic Storage Growth Trust III, Inc. (SSGT III):
SSGT III is a Maryland corporation that was elected to qualify as a REIT for federal income tax purposes. SSGT III’s primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada. As of September 19, 2024, SSGT III has a portfolio of seven operating properties in the United States, comprising approximately 5,160 units and 556,400 rentable square feet, two operating properties in Canada, comprising approximately 1,080 units and 118,700 rentable square feet and joint venture interests in two developments in two Canadian provinces (Québec and British Columbia). In addition, a subsidiary of SSGT III serves as the sponsor of a Delaware Statutory Trust, which owns two operating properties in the United States comprising approximately 1,040 units and 123,000 rentable square feet.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of September 19, 2024, SmartStop has an owned or managed portfolio of 201 operating properties in 22 states and Canada, comprising approximately 141,400 units and 16.0 million rentable square feet. SmartStop and its affiliates own or manage 36 operating self-storage properties in Canada, which total approximately 31,000 units and 3.2 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Contacts
David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
IR@smartstop.com
