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Business Wire
a day ago
- Business
- Business Wire
Strategic Storage Growth Trust III, Inc. Announces Land Acquisition in New Westminster, British Columbia
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: 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
Globe and Mail
11-02-2025
- Business
- Globe and Mail
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
