SmartStop Self Storage REIT, Inc. Expands Portfolio in the New York Metropolitan Region

By: SmartStop Self Storage REIT, Inc. via Business Wire

January 07, 2025 at 19:20 PM EST

SmartStop Self Storage REIT, Inc. ("SmartStop" or the "Company"), a self-managed and fully integrated self-storage company, is pleased to announce the acquisition of two premier Class A storage facilities in the New York Metro region.

The first facility, located at 1204 Broad St. in Clifton, New Jersey, encompasses approximately 116,100 net rentable square feet. Boasting a traffic count of approximately 158,800 vehicles daily from State Highway 3 and Broad Street, this prime location is conveniently situated across from a well-established retail store. The property features a three-story building with a basement, offering exclusively interior climate-controlled units accessible via two elevators, making it an ideal choice for consumers seeking premium storage options.

The second facility, situated at 591 N. Union Ave. in Hillside, New Jersey, spans approximately 111,600 net rentable square feet. With excellent visibility and accessibility and a daily traffic count of approximately 202,281 vehicles, this property benefits from its location near Garden State Highway. The six-story building offers a versatile mix of non-climate-controlled drive-up units and interior climate-controlled units. Additional amenities include two elevators and a covered loading bay, ensuring convenience for customers.

The two facilities sit in a densely populated submarket with an average three-mile population of approximately 266,000. The Clifton facility will serve the communities of Athenia, Passaic, Wallington, Rutherford, Delawanna, Nutley, Brookdale, Bloomfield, Montclair, Upper Montclair, Verona, Cedar Grove, Little Falls Township, and Totowa, while the Hillside facility will cater to neighborhoods of Millburn, Maplewood, Ivy Hill, Vailsburg, Irvington, Upper Clinton Hill, Weequahic, Dayton, Roselle Park, Roselle, Union, Springfield, and Vauxhall.

“The acquisition of these Class A facilities represents an additional step forward in our growth strategy to expand SmartStop’s footprint in major metropolitan markets,” said Wayne Johnson, President of SmartStop. “Their strategic locations, state-of-the-art features, and strong market fundamentals align with our commitment to providing exceptional storage solutions for our customers.”

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 525 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 January 7, 2025, SmartStop has an owned or managed portfolio of 211 operating properties in 22 states, the District of Columbia, and Canada, comprising approximately 151,000 units and 16.9 million rentable square feet. SmartStop and its affiliates own or manage 38 operating self-storage properties in Canada, which total approximately 32,900 units and 3.4 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.