A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.
net rentable square feettechnical
Net rentable square feet is the amount of a building’s space a landlord charges rent for — it covers the tenant’s private area plus a share of common areas such as lobbies, halls and restrooms. Investors care because it’s the base used to calculate rental income and rent-per-square-foot comparisons, which directly affect occupancy metrics, cash flow and property valuation, similar to how the number of sellable seats drives a theater’s revenue.
climate-controlled unitstechnical
Climate-controlled units are storage spaces kept within a set temperature and humidity range to protect sensitive goods like furniture, electronics, documents, and artwork. Think of them as a refrigerator or greenhouse for belongings: they reduce damage from heat, cold, mold and moisture, which lets facility operators charge higher rents, lower insurance and repair costs, attract steady customers, and preserve long-term asset value—important factors for investors evaluating income and risk.
soft openingtechnical
A soft opening is a limited, low-profile start of a new store, product, facility or service where operations run at reduced capacity to test systems, staff and customer response before a full public launch. For investors it signals a cautious rollout that can reduce operational risk and unexpected costs, provides early real-world data to judge future sales and customer demand, and may delay or smooth revenue recognition — like a rehearsal that helps avoid problems during the main performance.
LADERA RANCH, Calif.--(BUSINESS WIRE)--
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.UN).
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.”
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 1,000 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 and, through its Managed Platform, offers third-party management services in the U.S. and Canada. As of March 10, 2026, SmartStop has an owned or managed portfolio of over 460 operating properties in 35 states, the District of Columbia, and Canada, comprising over 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 50 operating self-storage properties across four provinces in Canada, which total approximately 43,000 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
