SmartStop Self Storage REIT, Inc. Expands Its Portfolio
SmartStop Self Storage REIT, Inc. (SmartStop), a fully integrated self-storage company, proudly announces a significant step forward with the acquisition of a premium self-storage facility located in Aurora. This facility, encompassing about 87,450 net rentable square feet, houses around 740 storage units spread across three buildings.
Overview of the New Facility
The newly acquired facility is designed to meet various customer storage needs. It offers an impressive mix of both climate-controlled and non-climate drive-up units, along with multi-floor interior climate-controlled options. There are also first-floor non-climate interior units, and the facility is equipped with two convenient elevator access points for ease of use.
Strategic Location and Community Impact
Located strategically with high visibility along Tower Road, the facility benefits from an impressive traffic volume of approximately 31,500 vehicles daily. Its proximity, just 12 miles east of downtown Denver, places it in a rapidly growing area characterized by a strong residential base and high household incomes. Projections indicate an 11% population growth within a three-mile radius over the next five years, making this acquisition a timely decision. Additionally, the site is near a busy retail hub, acting as an anchor for several well-known national brands, further enhancing its attractiveness.
Leadership Insight
Wayne Johnson, President of SmartStop, commented on this acquisition, stating, 'This acquisition exemplifies our strategic approach to identifying high-quality assets in dynamic markets ready for growth. Aurora’s vibrant community and its expanding population present an excellent opportunity to expand our presence in the greater Denver area while furthering our mission to create long-term value for our stakeholders.'
About SmartStop Self Storage REIT, Inc.
SmartStop Self Storage REIT, Inc. is a self-managed Real Estate Investment Trust (REIT) supported by a dedicated operations team of about 525 professionals who specialize in the self-storage sector. As a brand, SmartStop is focused on growth and increasing its market presence. Through its indirect subsidiary SmartStop REIT Advisors, LLC, the company also actively sponsors additional self-storage programs. Currently, SmartStop boasts an extensive portfolio, with ownership or management of 206 operating properties across 22 states and Canada. This portfolio includes roughly 145,700 units and a staggering 16.4 million rentable square feet. Notably, SmartStop manages 38 operating self-storage properties in Canada, totaling about 33,000 units and 3.4 million rentable square feet. For more details about SmartStop, additional information can be found at www.smartstopselfstorage.com.
Frequently Asked Questions
What type of facility has SmartStop acquired?
SmartStop has acquired a premium Class A self-storage facility offering approximately 740 units across three buildings.
Where is the new facility located?
The facility is located along Tower Road in Aurora, Colorado, which is near a busy retail hub.
How does this acquisition benefit SmartStop?
This acquisition allows SmartStop to expand its presence in a growing market, catering to a community with an expected population increase in the coming years.
What features does the new facility offer?
The facility includes climate-controlled and non-climate units, plus features like multi-floor options and elevator access for customer convenience.
How large is SmartStop's overall portfolio?
As of now, SmartStop manages or owns 206 operating properties across 22 states and Canada, focusing on expanding its self-storage brand.
