SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE:SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, is pleased to announce the acquisition of its 40th Canadian location with a state-of-the-art facility in Kelowna, British Columbia.
Located at 948 Ellis Street, the facility is a five-story Class A modern development featuring approximately 74,000 net rentable square feet and approximately 800 climate-controlled units. Designed for maximum accessibility and convenience, the facility boasts two elevator access points and benefits from its high-visibility location. The facility sits in an affluent, growing area expected to see 10% population growth over the next five years, highlighting strong demand for quality self-storage options.
“We’re thrilled to make our debut in the vibrant and fast-growing Kelowna market. This acquisition represents an exciting step in our growth strategy, and we believe Kelowna’s dynamic economy, strong fundamentals, and lifestyle-driven demand make it a natural fit for our portfolio,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “We’re proud to open our doors in the Okanagan region and are committed to delivering exceptional service to the local community.”
This facility will serve the neighborhoods of Benvoulin, Rutland, Glenmore, Dilworth Mountain, Okanagan Mission, and Lakeview Heights, offering secure and accessible storage options to the growing Kelowna community.
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