SmartStop Self Storage Announces 22nd Property in the Greater Toronto Area
LADERA RANCH, Calif.--(BUSINESS WIRE)--Dec 29, 2022--
SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced today that it has increased its owned and managed Canadian self storage portfolio to 22 locations. The 22 nd property in the portfolio is the newly developed facility located in the Town of Aurora in the Greater Toronto Area of Ontario.
Located at 87 Goulding Avenue, the approximately 94,000-square-foot facility is a joint venture development with SmartCentres. The new Class A, four-story climate-controlled facility includes approximately 890 units and is well-situated across from a central shopping plaza anchored by several big-box retailers. The location features easy access to Highway 404 and serves the communities of Newmarket, Pleasantville, White Rose, Cherry, Vandorf, and Preston Lake.
“When we entered the Canadian self storage market in 2010 with our first acquisition in Ontario, it was an exciting opportunity to expand the SmartStop brand to an attractive self storage market that was ripe with opportunity,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “Twelve years and 22 locations later, our commitment to the Canadian market is stronger than ever. We look forward to expanding SmartStop’s footprint in Ontario and other provinces and using the SmartStop platform to further increase stockholder value.”
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 450 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 December 29, 2022, SmartStop has an owned or managed portfolio of 179 operating properties in 22 states and Ontario, Canada, comprising approximately 124,000 units and 14.2 million rentable square feet. SmartStop and its affiliates own or manage 22 operating self storage properties in the Greater Toronto Area and surrounding areas, which total approximately 19,000 units and 1.9 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20221229005287/en/
CONTACT: David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA
INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT
SOURCE: SmartStop Self Storage REIT, Inc.
Copyright Business Wire 2022.
PUB: 12/29/2022 04:49 PM/DISC: 12/29/2022 04:48 PM