Strategic Storage Growth Trust III, Inc. Expands Presence in Ontario, Canada With Barrie Acquisition
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 a premier self-storage facility located at 341 Mapleview Drive West in Barrie, Ontario.
Spanning approximately 88,900 net rentable square feet, the facility offers a mix of storage options to accommodate a wide range of customer needs. It features a single-story building with approximately 420 interior climate-controlled units and seven additional drive-up buildings comprising approximately 320 climate-controlled, heated and non-heated drive-up units. The location also benefits from an above-average median household income within a five-mile radius.
The newly constructed facility is in a high-traffic area with approximately 16,000 cars passing by daily. It is also adjacent to a planned central retail plaza and a growing residential community, reinforcing its potential for strong demand. The surrounding population is projected to grow significantly from approximately 160,000 residents in 2023 to 253,000 by 2041. The facility is well-positioned to serve the neighborhoods of Grenfel, Minet's Point, Tollendal, Painswick, Bayshore Estates, Thornton, Ivy, Essa and Colwell.
'This acquisition emphasizes our commitment to investing in high-quality self-storage assets in key growth markets,' said H. Michael Schwartz, CEO and President of SSGT III. 'Barrie's strong economic fundamentals, increasing population, and ongoing commercial and residential development make this an ideal location to serve the needs of residents and businesses. We are excited to welcome this facility into our portfolio and continue delivering best-in-class storage solutions.'
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 February 11, 2025, SSGT III has a portfolio of six operating properties in the United States, comprising approximately 5,160 units and 556,400 rentable square feet; four operating properties in Canada, comprising approximately 2,380 units and 272,800 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 560 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 February 11, 2025, SmartStop has an owned or managed portfolio of 211 operating properties in 22 states, the District of Columbia, and Canada, comprising approximately 151,500 units and 17.0 million rentable square feet. SmartStop and its affiliates own or manage 39 operating self-storage properties in Canada, which total approximately 33,600 units and 3.4 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com
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