The self storage industry is continuing to expand this spring with a wave of new facilities opening up across the country, particularly in the South.
In Georgia, a private investor has purchased the four-year-old East Ellijay facility of American Storage. The facility has about 35,000 square feet of rentable space, divided into 248 units, some of which are climate-controlled. The property also features a truck rental service and has several security features, including digital entry, perimeter fencing, and security cameras. The sale was brokered by Dale Eisenman, the president of Midcoast Properties Inc.
Meanwhile, in Covington, Georgia, Always Open Storage has purchased an existing self storage facility to expand its business. Always Open is based in North Webster, Indiana, and also has a Danville, Illinois location. But owner Casey Cavell is determined to expand his portfolio. The new Georgia facility has 20,000 square feet of space, divided into 498 units. Cavell is renovating the facility, adding electric gates with a keypad entry, fencing, and some office upgrades. He plans to offer new renters the free use of a moving truck.
At the same time, an Oakland Park, Florida self storage facility has been acquired by Strategic Storage Trust Inc, which also owns facilities in Tallahassee, Weston, and Gulf Breeze. Strategic Storage paid cash for the facility, which has 93,700 rentable square feet divided into 1,600 units. It is located about five miles north of Fort Lauderdale, near several freeways.
“The Florida market has significant opportunity,” Strategic Storage’s senior vice president of acquisition, Wayne Johnson, said in a statement released last week. “We are pleased with the high quality of storage we can provide to the Ft. Lauderdale market and surrounding region with this acquisition.”
“Our fifth Florida acquisition adds to our presence in Broward County, one of the fastest growing areas in the nation,” added CEO and president H. Michael Schwartz.