Strategic Storage Growth Trust III Expands Its Portfolio
Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust backed by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), is excited to share that it has recently acquired a new self-storage facility located in St. Albert, Alberta, Canada.
Details of the New Facility
This newly built facility at 8 Inglewood Drive features approximately 36,900 net rentable square feet. With around 310 units available, it offers both climate-controlled interior units as well as convenient drive-up options. A standout aspect of this facility is its state-of-the-art keyless entry system, which enhances security while ensuring easy access for customers.
Strategic Location and Future Expansion
Ideally placed near St. Albert Trail, a key roadway linking St. Albert to Edmonton, this facility enjoys excellent visibility and benefits from a high volume of traffic. The median household income in the area is considerably higher than average, making it a prime location for storage services. With anticipated residential growth, this facility is well-prepared to serve nearby neighborhoods like Inglewood, Oakmont, Woodlands, and others.
Looking forward, SSGT III has exciting plans for a major expansion of this facility, which is expected to take place in the first half of the next year. This expansion will include the addition of approximately seven drive-up buildings and 640 new units, increasing the total net rentable square footage to around 70,500. This new space will meet the rising demand and reinforce SSGT III’s dedication to outstanding service and customer satisfaction.
Leadership’s Vision
H. Michael Schwartz, the CEO and President of SSGT III, expressed his enthusiasm about this new facility. He stated, "The acquisition of the St. Albert facility marks a significant milestone for SSGT III, marking our first property in the broader Edmonton area and Alberta. We’re excited to offer the community a top-notch storage solution that prioritizes convenience, security, and accessibility."
About Strategic Storage Growth Trust III
Strategic Storage Growth Trust III, Inc. is a Maryland-based corporation that has opted to qualify as a REIT for federal income tax purposes, concentrating on growth-driven self-storage properties. As part of its investment strategy, SSGT III invests in self-storage facilities throughout the United States and Canada. According to the latest reports, the company has a portfolio that includes seven operating properties in the U.S., encompassing about 5,160 units and 556,400 rentable square feet, along with two operating facilities in Canada that contain roughly 1,080 units and 118,700 rentable square feet. Furthermore, SSGT III has joint venture interests in two developments across two Canadian provinces.
About SmartStop Self Storage REIT
SmartStop Self Storage REIT, Inc. operates as a self-managed REIT, led by a dedicated team of approximately 500 self-storage professionals who are focused on the growth of the SmartStop Self Storage brand. SmartStop manages a portfolio that consists of 201 properties spread across 22 states and Canada, totaling around 141,400 units and 16 million rentable square feet. Notably, SmartStop and its affiliates oversee 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 includes both climate-controlled interior units and drive-up options to meet various customer needs.
Where is the new facility located?
The facility is located at 8 Inglewood Drive in St. Albert, Alberta, ensuring great access and visibility near major roads.
What are the plans for future expansion?
The plans include adding approximately seven drive-up buildings and 640 units, with completion expected within the next few years.
Who operates SSGT III?
SSGT III is sponsored by SmartStop Self Storage REIT, Inc., which handles 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 across the United States and Canada, aiming for a diverse and expansive portfolio.
