Inside SmartStop’s new Florida acquisition: 515 units and a growth corridor

SmartStop Self Storage REIT, Inc. (NYSE: SMA), a real estate investment trust focused on self-managed self-storage operations across North America, has deepened its presence in the Orlando metropolitan area with the acquisition of a strategically located property in Winter Garden, Florida. The new facility spans approximately 72,100 net rentable square feet and consists of seven one-story buildings that house around 515 individual storage units. The unit mix includes climate-controlled interior units as well as non-climate-controlled drive-up storage spaces, catering to both residential and business users.

The asset is located at 1650 Avalon Road, about 15 miles west of downtown Orlando, directly across from a major national supermarket, giving it strong visibility and immediate access to a growing residential base. Traffic patterns indicate that nearly 8,000 vehicles pass by the facility each day, underscoring its accessibility and exposure to prospective customers in the area.

This transaction marks the fifth active location for SmartStop Self Storage REIT, Inc. within the Orlando MSA and aligns with the company’s broader strategy to grow in suburban regions exhibiting rapid population growth, strong income demographics, and ongoing residential development. Winter Garden, one of the fastest-expanding suburban hubs in central Florida, is projected to see an 8.4 percent increase in population within a five-year window, supported by new housing construction estimated to deliver over 42,000 residential units nearby.

Why is Winter Garden seen as a strategic location for SmartStop’s expansion in Florida?

SmartStop Self Storage REIT, Inc. is positioning itself to capture long-term value from central Florida’s suburban development wave, and Winter Garden fits this blueprint. The area has emerged as a magnet for new residential projects due to its favorable zoning, proximity to Orlando’s core, and established retail infrastructure. SmartStop’s new facility benefits from a combination of high visibility, strong median household income within a three-mile radius, and proximity to several high-demand neighborhoods including Hamlin, Independence, Stoneybrook West, Latham Park, Summerlake, and Horizon West.

Wayne Johnson, President and Chief Investment Officer of SmartStop Self Storage REIT, Inc., said in a statement that Winter Garden checks all the strategic boxes the company looks for when evaluating high-growth suburban opportunities. He emphasized that the area’s ongoing residential expansion and attractive demographic profile make the new acquisition an ideal fit for SmartStop’s scalable growth model across metro-adjacent communities.

How does this acquisition support SmartStop’s growth roadmap in North America?

The addition of the Winter Garden facility adds to SmartStop Self Storage REIT, Inc.’s already substantial footprint across North America. As of late November 2025, the real estate investment trust owns or manages more than 460 operating self-storage properties across 34 U.S. states, Washington D.C., and Canada. These properties collectively represent over 270,000 storage units and 35 million rentable square feet. In Canada, SmartStop’s portfolio includes 49 operating properties spread across four provinces, totaling around 42,200 units and 4.3 million rentable square feet.

SmartStop has also invested in building a vertically integrated operations team, with more than 1,000 professionals managing and growing the SmartStop® Self Storage brand. In addition to directly owned properties, the REIT also supports affiliated self-storage programs through its subsidiary SmartStop REIT Advisors, LLC, and provides third-party management services via Argus Professional Storage Management. This multi-channel strategy has enabled SmartStop to grow quickly while maintaining operational control and brand consistency across geographies.

The Orlando market, particularly Winter Garden and its surrounding residential clusters, offers the kind of demographic and structural tailwinds that align well with SmartStop’s property acquisition thesis. By targeting areas where migration patterns, infrastructure investments, and housing development are converging, the REIT aims to future-proof its asset base and maximize long-term returns.

What does this reveal about REIT investment patterns in Florida’s self-storage sector?

SmartStop Self Storage REIT, Inc.’s expansion in Winter Garden illustrates a larger trend in real estate investment trust strategies, particularly in the self-storage segment. Institutional capital has increasingly flowed into secondary and tertiary metro markets where high growth potential combines with more favorable acquisition pricing and untapped consumer demand. Central Florida remains one of the most active regions in this regard, supported by high rates of domestic in-migration, a strong labor market, and continued residential construction.

Analysts tracking REIT activity in the self-storage space believe that SmartStop’s move reflects broader sentiment among income-oriented investors. Suburban migration trends, coupled with lifestyle changes following the pandemic, have pushed demand for self-storage closer to residential neighborhoods, especially in communities where garage space, attics, and basements are less common.

With a resilient operating model and an inflation-resistant asset class, SmartStop has positioned itself well to benefit from both the cyclical and structural drivers impacting commercial real estate. The company’s ability to blend direct ownership with third-party management also enhances its flexibility in navigating different market conditions while still building scale and brand equity.

How does SmartStop plan to differentiate itself as competition in the storage sector intensifies?

The self-storage industry in the United States is seeing increased competition as large national players and regional operators alike race to capture share in fast-growing suburban and exurban markets. SmartStop Self Storage REIT, Inc. has responded by emphasizing operational integration, technology adoption, and neighborhood-oriented asset development.

The Winter Garden facility, with its combination of climate-controlled and non-climate-controlled offerings, reflects SmartStop’s approach to delivering localized, needs-based solutions rather than one-size-fits-all designs. By tailoring facilities to both residential movers and small businesses, SmartStop is able to address multiple use cases and drive occupancy rates across economic cycles.

Looking forward, the REIT is expected to continue focusing on high-growth corridors in states like Florida, Texas, and the Carolinas, as well as complementary expansion in Canada. Analysts believe that SmartStop’s disciplined acquisition strategy and focus on scalable operations make it a compelling REIT in a sector increasingly driven by customer experience, automation, and demographic tailwinds.

What are the key takeaways from SmartStop’s Winter Garden self-storage acquisition?

SmartStop Self Storage REIT, Inc. has made a strategic investment in Winter Garden, Florida, that reflects its broader vision for suburban market dominance. Below are the main insights from the development:

• SmartStop Self Storage REIT, Inc. has acquired a 72,100 net rentable square-foot self-storage facility in Winter Garden, Florida, consisting of approximately 515 units across seven single-story buildings.

• The property features a mix of climate-controlled and drive-up storage units and is located 15 miles west of downtown Orlando, benefiting from strong daily vehicle traffic and proximity to a major national supermarket.

• The acquisition marks SmartStop’s fifth facility in the Orlando metropolitan area and targets a region expected to see 8.4 percent population growth over the next five years.

• The area surrounding the new facility is undergoing significant residential development, with more than 42,000 new housing units planned, supporting strong long-term storage demand.

• The site serves growing neighborhoods such as Hamlin, Independence, Horizon West, and Summerlake, known for rising household incomes and expanding infrastructure.

• Wayne Johnson, President and CIO of SmartStop, noted that the acquisition aligns with the company’s long-term value strategy and demographic-focused site selection model.

• As of November 2025, SmartStop owns or manages over 460 self-storage properties across the United States and Canada, encompassing more than 270,000 storage units and 35 million rentable square feet.

• The acquisition reinforces a wider trend of REITs increasing exposure to secondary metros and suburban corridors with strong housing growth and migration inflows.

• Analysts tracking the sector see SmartStop’s vertically integrated model and focus on demographic-led acquisitions as positioning it well for sustained growth in the self-storage REIT market.

• SmartStop continues to blend direct ownership with third-party management services, enhancing scalability without compromising operational consistency.