SmartStop Self Storage REI Acquires A 1.75-Acre Parcel Of Land In Edmonton, Alberta; Terms Not Disclosed

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, announced it has acquired a 1.75-acre parcel of land in Edmonton, Alberta. SmartStop intends to develop the project into a new Class A self-storage facility in partnership with SmartCentres (TSX:SRU).

The site is located at 8403 127 Ave NW, approximately 3.5 miles north of downtown, and offers strong visibility to southbound traffic along 82 Street NW. The proposed development is expected to deliver a single four-story building with two elevators and approximately 99,650 net rentable square feet of storage space, featuring 100% climate-controlled units.

The surrounding three-mile area has a population of approximately 193,000 and is projected to grow by 8.6% over the next five years, supporting continued demand for high-quality self storage.

Construction is scheduled to begin in the second quarter of 2027, with a planned soft opening in the third quarter of 2028. When complete, the facility will serve the neighborhoods of Balwin, Delton, Elmwood Park, Killarney, Calder, Sherbrooke, and Westwood.

This development will be SmartStop's sixth location in the Edmonton metropolitan area, further strengthening the company's presence in Alberta.

"This acquisition is a compelling opportunity to expand our presence in a growing, supply-constrained market," said H. Michael Schwartz, Chairman and CEO of SmartStop. "Edmonton continues to demonstrate strong fundamentals, and partnering with SmartCentres allows us to deliver a best-in-class facility that meets the needs of the surrounding communities and enhances long-term value for our shareholders."