- SmartStop Self Storage REIT (SMA, Financial) expands its Canadian presence with a new Kelowna facility.
- The facility offers 74,000 net rentable square feet in an area projected to grow by 10% over the next five years.
- This marks SmartStop's 40th Canadian location, underscoring strategic growth in high-demand markets.
SmartStop Self Storage REIT, Inc. (SMA), a leading real estate investment trust, has announced the opening of its 40th Canadian facility, a state-of-the-art self-storage site in Kelowna, British Columbia. The facility is strategically located at 948 Ellis Street and is designed to meet the growing demand for premium storage solutions in an affluent area expected to experience a 10% population increase over the next five years.
The new development boasts approximately 74,000 net rentable square feet, features around 800 climate-controlled units, and is equipped with two elevator access points for enhanced convenience. The location’s visibility and accessibility are key highlights, serving neighborhoods such as Benvoulin, Rutland, Glenmore, Dilworth Mountain, Okanagan Mission, and Lakeview Heights.
H. Michael Schwartz, Chairman and CEO of SmartStop, expressed enthusiasm about the company's entry into the Kelowna market. “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 Schwartz.
SmartStop continues to expand its footprint with this modern Class A development, reinforcing its commitment to delivering top-tier service and quality self-storage options in burgeoning markets across Canada.
For more information about SmartStop Self Storage REIT, Inc., visit their website at www.smartstopselfstorage.com.
