Strategic Storage Growth Trust III, Inc. Announces Land Acquisition in New Westminster, British Columbia

Business Wire

16 hours ago

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') (NYSE: SMA) in partnership with SmartCentres Real Estate Investment Trust (TSX: SRU.UN), announced the acquisition of a 1.18-acre land parcel in New Westminster, British Columbia.
This high-impact land acquisition is located on Tanaka Court in New Westminster, B.C., about 10 miles from downtown Vancouver in the city's fast-growing Queensborough area. The site is set to become home to a six-story, Class A self-storage facility totaling approximately 99,260 net rentable square feet across approximately 1,170 climate-controlled units, supported by two elevators for convenient access.
With frontage on Boyd Street and direct exposure to Highway 91A, the site captures more than 102,000 vehicles daily.
Queensborough has transformed over the last decade from an industrial corridor into one of the region's most active residential growth zones. This market was identified as a strategic fit due to its dense housing, increasing household incomes, and limited existing storage supply. The facility will serve a wide catchment, including Queensborough, Queen's Park, Sapperton, Downtown New Westminster, Brow of the Hill, Glenbrooke North, and Victory Heights.
Construction is scheduled to begin in the second half of 2026 with a soft opening planned for late 2027.
'This location checks every box: high income, strong growth, and a market that's still underbuilt,' said H. Michael Schwartz, CEO of SSGT III. 'This isn't just another site. It's a strategic play to expand into an underserved pocket of Greater Vancouver.'
About Strategic Storage Growth Trust III, Inc. (SSGT III):
SSGT III is a Maryland corporation that 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 June 13, 2025, SSGT III has a portfolio of twelve operating properties in the United States, comprising approximately 9,540 units and 1,130,800 net rentable square feet; four operating properties in Canada, comprising approximately 2,380 units and 272,800 net rentable square feet; and joint venture interests in three 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 currently owns two operating properties in the United States comprising approximately 1,040 units and 123,000 net rentable square feet.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 600 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 June 13, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com