Strategic Storage Growth Trust III (SSGT III), a private REIT affiliated with SmartStop Self Storage REIT, has expanded its footprint in Ontario with the acquisition of a premier self-storage facility in Barrie.

Located at 341 Mapleview Drive West, the newly constructed facility spans approximately 88,900 net rentable square feet (rsf) and offers a variety of storage solutions. The site features a single-story building with 420 interior climate-controlled units and seven additional drive-up buildings, housing approximately 320 climate-controlled, heated, and non-heated drive-up units.

Financial terms were not disclosed.

“This acquisition emphasizes our commitment to investing in high-quality self-storage assets in key growth markets,” said Michael Schwartz, president and CEO of SSGT III. “Barrie’s strong economic fundamentals, increasing population, and ongoing commercial and residential development make this an ideal location to serve the needs of residents and businesses.”

Positioned in a high-traffic area with approximately 16,000 cars passing by daily, the facility benefits from its close proximity to a planned central retail plaza and a growing residential community. The surrounding population is projected to increase from approximately 160,000 residents in 2023 to 253,000 by 2041, further reinforcing demand for self-storage solutions.

The location serves several key neighbourhoods, including Grenfel, Minet’s Point, Tollendal, Painswick, Bayshore Estates, Thornton, Ivy, Essa, and Colwell.

With this acquisition, SSGT III continues to expand its presence in Canada. The company now holds four operating properties in Canada, comprising approximately 2,380 units and 272,800 rsf, in addition to joint-venture interests in developments in Quebec and British Columbia.

Ladera Ranch, Calif.-based SmartStop manages a growing portfolio of 211 self-storage properties across 22 U.S. states, the District of Columbia, and Canada. In Canada alone, SmartStop and its affiliates own or manage 39 self-storage properties, representing approximately 33,600 units and 3.4 million rsf.

Pictured: Newly acquired SmartStop self-storage facility in Barrie, Ont.

Photo: StorageMart