SmartStop Self Storage REIT, Inc. Expands Portfolio With Acquisitions in Washington, D.C., and San Jose, California

SmartStop Self Storage REIT, Inc., a self-managed and fully integrated self-storage company, has made a significant move in expanding its portfolio. The company recently announced the acquisition of two high-quality self-storage facilities, enhancing its presence in key markets in Washington, D.C., and San Jose, California.

Washington, D.C. Facility Details

The facility located at 1401 22nd Street SE in Washington, D.C. is a Class A, five-story building. It offers roughly 74,300 net rentable square feet and features about 830 fully climate-controlled storage units. Customers can conveniently access the units through two elevator access points.

This facility enjoys excellent visibility from major roads, including the Anacostia Freeway and Pennsylvania Avenue, which see about 167,000 vehicles daily. The surrounding area benefits from a dense residential population with strong median household incomes and is projected to see a population growth of 6.1% in the next five years. This positioning allows the facility to serve several neighborhoods, including Lincoln Park, Hill East, and Southeast Washington.

San Jose Facility Overview

In San Jose, the new acquisition is located at 2487 Alum Rock Avenue. This site provides approximately 59,650 net rentable square feet divided among three buildings, totaling about 650 storage units. The facility features a variety of unit types, such as exterior non-climate-controlled drive-up units and interior non-climate-controlled units, along with two elevator access points.

Strategically situated just three miles from downtown San Jose, it is highly visible from Alum Rock Avenue and Highway 680, with around 244,000 vehicles passing by daily. The area within a three-mile radius has a population of approximately 278,000 residents with high household incomes, indicating a promising market for self-storage services, especially with expected population increases in the coming years. This site will effectively cater to neighborhood areas like Warm Springs, East Hills, and Mayfair.

Company Insights

Wayne Johnson, the President of SmartStop, commented on these acquisitions, highlighting how they align with the company’s strategy of investing in high-quality facilities situated in densely populated and high-growth locales. He expressed enthusiasm about integrating these facilities into SmartStop's portfolio, which will further allow the company to meet the self-storage needs of vibrant communities.

About SmartStop Self Storage REIT, Inc.: SmartStop is a self-managed REIT with a dedicated operations team comprising approximately 525 self-storage professionals. As of December 20, 2024, SmartStop boasts a portfolio of 209 operating properties across 22 states, the District of Columbia, and Canada, equating to around 148,500 units and 16.7 million rentable square feet. The company also manages 38 operating self-storage properties in Canada, with around 32,900 units and 3.4 million rentable square feet. To learn more about SmartStop, visit smartstopselfstorage.com.

SmartStop, Acquisitions, SelfStorage