Strategic Storage Growth Trust III Expands Presence in Canada

Strategic Storage Growth Trust III Expands Its Portfolio

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 excited to announce the recent acquisition of a new self-storage facility in St. Albert, Alberta, Canada.

Details of the New Facility

This newly constructed facility, located at 8 Inglewood Drive, offers approximately 36,900 net rentable square feet. With around 310 units available, it includes both interior climate-controlled units and drive-up options. A key feature of the facility is its advanced keyless entry system, which enhances security while providing customers with convenient access.

Strategic Location and Future Expansion

Positioned strategically near the St. Albert Trail, a major roadway that connects St. Albert to Edmonton, this facility benefits from excellent visibility and high traffic volume. The area's median household income significantly exceeds average levels, making it an ideal location for storage services. Anticipating rapid residential growth, the facility is well-suited to cater to neighborhoods like Inglewood, Oakmont, Woodlands, and many others.

Looking ahead, SSGT III has plans for a significant expansion of this facility, expected to occur in the first half of the following year. This expansion aims to add approximately seven drive-up buildings and 640 additional units, increasing the total net rentable square footage to around 70,500. The additional space will accommodate the growing demand and affirm SSGT III’s commitment to exceptional service and customer satisfaction.

Leadership’s Vision

H. Michael Schwartz, CEO and President of SSGT III, shared his excitement regarding this new addition. He expressed, "The acquisition of the St. Albert facility represents a significant milestone for SSGT III as it marks our first property in the broader Edmonton area and Alberta. We are thrilled to provide the community with a premium storage solution that emphasizes convenience, security, and accessibility."

About Strategic Storage Growth Trust III

Strategic Storage Growth Trust III, Inc. is a Maryland corporation that has chosen to qualify as a REIT for federal income tax, focusing on growth-oriented self-storage properties. As part of its investment strategy, SSGT III invests in self-storage facilities across the United States and Canada. As of the latest reports, the company boasts a portfolio of seven operating properties in the U.S. with around 5,160 units and 556,400 rentable square feet, along with two operating facilities in Canada containing approximately 1,080 units and 118,700 rentable square feet. Additionally, SSGT III has joint venture interests in two developments across two Canadian provinces.

About SmartStop Self Storage REIT

SmartStop Self Storage REIT, Inc. is a self-managed REIT with a dedicated operations team comprising around 500 self-storage professionals focused on the growth of the SmartStop Self Storage brand. SmartStop manages a portfolio of 201 properties across 22 states and Canada, totaling approximately 141,400 units and 16 million rentable square feet. Notably, SmartStop and its affiliates maintain 36 operating self-storage properties in Canada, comprising about 31,000 units and 3.2 million rentable square feet.

Frequently Asked Questions

What services does the new facility offer?

The facility provides both interior climate-controlled units and drive-up options to accommodate diverse customer needs.

Where is the new facility located?

It is situated at 8 Inglewood Drive in St. Albert, Alberta, providing excellent access and visibility near major thoroughfares.

What are the plans for future expansion?

The expansion is set to add approximately seven drive-up buildings and 640 units, with the completion expected within the next few years.

Who operates SSGT III?

SSGT III is sponsored by SmartStop Self Storage REIT, Inc., which manages the operations and growth strategies for the REIT.

How does SSGT III's investment strategy work?

SSGT III focuses on investing in growth-oriented self-storage facilities in both the United States and Canada, aiming for a diversified and expansive portfolio.

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