SmartStop Self Storage REIT, Inc. Acquires Self Storage Facility in the Chicago Metropolitan Area
February 8, 2022 | SmartStop Self Storage REIT
SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully-integrated self storage company, today announced the acquisition of a self storage facility in Algonquin, IL. This is SmartStop’s sixth owned or managed location in the Chicago market and 163rd in North America.
The facility is located at 1910 East Algonquin Road, Algonquin, IL, a dense and high-end suburban pocket of Chicago. This prime location has great visibility from the heavily-trafficked Algonquin Road, and serves the communities of Cary, Carpentersville, Lake in the Hills, Lake Zurich, Trout Valley and West Dundee. The property’s 900 units span across approximately 109,000 square feet, and offer customers a blend of interior, climate controlled and non-climate, drive-up product. Additionally, the property offers amenities including a gated drive-in loading area, state-of-the-art security systems, keypad access and large truck accessibility.
“This is a fantastic asset in the undersupplied Algonquin submarket within the Chicago Metropolitan Area,” said Wayne Johnson, President & Chief Investment Officer of SmartStop. “The facility is user friendly with a blend of drive-up and interior units and is surrounded by dense and affluent residential communities, with a strong pipeline of additional residential projects under construction. This high quality property is a great addition to the SmartStop portfolio.”
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 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. As of February 8, 2022, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 163 properties in 19 states and Ontario, Canada and comprising approximately 111,000 units and 12.6 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
Media Contact
David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
949-542-3331
IR@smartstop.com
