A Delaware statutory trust is a legal ownership structure that lets multiple investors hold undivided shares in real estate or other income-producing assets without each person taking direct title. Think of it as a specialized container that owns property while investors own pieces of the container; it simplifies management, limits individual liability, and can enable tax-deferred strategies. Investors care because it offers a way to earn passive rental income and diversify holdings with less hands-on responsibility.
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-controlledtechnical
A climate-controlled space is an indoor area where temperature and humidity are actively managed to stay within set ranges, like a thermostat on steroids for a room. Investors care because it preserves the value and functionality of goods, equipment, or data—reducing spoilage, service disruptions, insurance costs and regulatory risks—so properties or businesses offering climate control can command higher rents, lower downtime and more predictable operating expenses.
LADERA RANCH, Calif.--(BUSINESS WIRE)--
Strategic Storage Growth Trust III, Inc. (“SSGT III”), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), announced the acquisition of a three-property self-storage portfolio in Spartanburg County, South Carolina. The portfolio totals approximately 179,900 net rentable square feet and includes approximately 1,580 storage units, the majority of which are climate-controlled, along with approximately 120 parking spaces. These three properties were acquired by SSGT III in Delaware Statutory Trusts.
The facilities are modern assets located in well-populated suburban trade areas benefiting from strong household incomes, solid traffic exposure, and favorable population growth trends.
The Boiling Springs facility, located at 112 McCullugh Road, comprises approximately 53,500 net rentable square feet, 450 storage units and 66 parking spaces. The property offers a mix of interior climate-controlled units and exterior drive-up units and benefits from visibility to approximately 33,000 vehicles per day. The location serves the residential communities of Boiling Springs, Summit Brown Arrow, Fingerville, Mayo, Cherokee Springs, Whitney Heights, Converse, Drayton, Spartanburg, Valley Falls, Willow Wood, Woodfield, Inman, Inman Mills, Woodridge and Woodfin.
The facility at 899 E. Main St. in Spartanburg consists of five one-story buildings, totaling approximately 50,300 net rentable square feet and 410 units. The property offers a mix of climate-controlled and drive-up units, and benefits from its proximity to downtown Spartanburg and surrounding infill development. The East Main Street location serves the nearby residential neighborhoods of Spartanburg, Summit Hills, Zion Hill, Hillbrook, Fernwood, Hillcrest, Converse, Clifton, Glendale, Beaumont Village, Whitney, Whitney Heights and Drayton.
The facility located at 1640 John B. White Sr. Blvd. features a modern three-story building with approximately 76,100 net rentable square feet, 720 climate-controlled storage units and 55 parking spaces. The property will serve the neighborhoods of Spartanburg, Arcadia, Saxon, Woodland Heights, Windsor Forest, Woodwind, Arkwright, Roebuck, Ashley, West Forest, Angelwood, Fairmont Hills and Camelot.
“These acquisitions advance SSGT III’s strategy of investing in high-quality self-storage assets in attractive secondary markets,” said H. Michael Schwartz, CEO of SSGT III. “Spartanburg benefits from strong demographic growth, expanding residential development and favorable demand drivers, positioning this portfolio for continued operational performance and long-term value creation.”
About Strategic Storage Growth Trust III, Inc. (SSGT III):
Strategic Storage Growth Trust III, Inc. (“SSGT III”) is a Maryland corporation that elected to qualify as a REIT for federal income tax purposes. SSGT III’s primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada. As of December 18, 2025, SSGT III has a portfolio of ten operating properties in the United States, comprising approximately 7,740 units and 835,175 net rentable square feet; five operating properties in Canada, comprising approximately 3,180 units and 326,190 net rentable square feet; and joint venture interests in three developments in two Canadian provinces (Québec and British Columbia). In addition, Blue Door Asset Management I, a subsidiary of SSGT III, serves as the sponsor of three Delaware Statutory Trusts, which currently own eight operating properties in the United States comprising approximately 5,420 units and 697,400 net rentable square feet.
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 indirect subsidiary Argus Professional Storage Management, LLC, offers third-party management services in the U.S. and Canada. As of December 18, 2025, SmartStop has an owned or managed portfolio of more than 460 operating properties in 34 states, Washington D.C., and Canada, comprising approximately 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 42,200 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
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