{"id":1004144748,"date":"2016-05-24T07:08:55","date_gmt":"2016-05-24T15:08:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004144748"},"modified":"2020-04-28T21:41:11","modified_gmt":"2020-04-29T05:41:11","slug":"strategic-storage-growth-plans-second-development-in-canada","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/strategic-storage-growth-plans-second-development-in-canada\/","title":{"rendered":"Strategic Storage Growth Plans Second Development in Canada"},"content":{"rendered":"

By Adriana Pop, Senior Associate Editor <\/em><\/p>\n

Toronto<\/strong>\u2013Strategic Storage Growth Trust<\/a>, which is sponsored by SmartStop Asset Management LLC<\/a>, has acquired an industrial facility in Ontario, Canada, with plans to redevelop the property into a 900-unit self-storage facility<\/a>. Construction on the project, which marks the company\u2019s second development in Canada, is scheduled to be complete by April 2017.<\/p>\n

\"SSGT<\/a>

Rendering of SSGT 69 Torbarrie Road in Ontario<\/p><\/div>\n

\u201cThis will be the best and newest facility in the area with over 600,000 people in the five-mile ring,\u201d Michael Schwartz, SSGT\u2019s chairman & CEO, said in prepared remarks. \u201cWe are on target to complete the development of the self-storage facility by the second quarter of 2017, with the goal of renting self-storage units shortly thereafter.\u201d<\/p>\n

This new self-storage facility will encompass approximately 85,000 net rentable square feet. Located at 69 Torbarrie Road, which faces Highway 400, the four-story building will sit on nearly 1.5 acres and will offer drive-up and climate-controlled units. Upon completion, the facility will be managed by a subsidiary of SmartStop Asset Management and re-branded under the SmartStop Self Storage trade name.<\/p>\n

\u201cWe are excited to offer the local area this Class A, state-of-the-art facility,\u201d added Wayne Johnson, SSGT\u2019s chief investment officer. \u201cHeavy traffic and great visibility, coupled with the local market\u2019s dense population, should equate to a highly successful project.\u201d<\/p>\n

In addition to the 69 Torbarrie facility, SSGT\u2019s Canadian portfolio includes the 365 Fruitland Road\u00a0property in Hamilton, Ontario. The 780-unit ground-up development project is currently under construction.<\/p>\n

The REIT\u2019s recent expansion also includes the acquisition of three self-storage facilities in San Antonio, Kingwood, Texas and Aurora, Colo.<\/a> in December, as well as the purchase of a San Antonio property<\/a> with 385 units in January.<\/p>\n

Rendering courtesy of Strategic Storage Growth Trust <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The self-storage REIT is planning to build a 900-unit facility in Ontario, Canada.<\/p>\n","protected":false},"author":260,"featured_media":1004144750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,16,21742],"tags":[],"class_list":["post-1004144748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-international","category-latest"],"acf":[],"yoast_head":"\nStrategic Storage Growth Plans Second Development in Canada - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-growth-plans-second-development-in-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strategic Storage Growth Plans Second Development in Canada\" \/>\n<meta property=\"og:description\" content=\"The self-storage REIT is planning to build a 900-unit facility in Ontario, Canada.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-growth-plans-second-development-in-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-24T15:08:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-29T05:41:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/SSGT-69-Torbarrie-Rd-Ontario-Rendering.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1156\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-growth-plans-second-development-in-canada\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/strategic-storage-growth-plans-second-development-in-canada\/\",\"name\":\"Strategic Storage Growth Plans Second Development in Canada - 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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