Meridian Storage Group Brokers Georgia Storage Deal
- Aug 05, 2020
Meridian Storage Group has completed the disposition of Hollywood Self Storage, a Class A, 62,073-square-foot facility in Augusta, Ga. President Patrick Kidder negotiated the deal on behalf of the seller and sourced the buyer.
Located on a 4-acre parcel at 659 E. Robinson Ave., the property encompasses nine single-story buildings delivered in 2019. The facility provides 286 climate-controlled and 187 standard units with sizes between 25 and 400 square feet, along with truck rentals and RV and boat storage.
Hollywood Self Storage is 3 miles west of the Fort Gordon Army base and 11 miles west of downtown Augusta. There are at least four other self storage facilities within a 3-mile radius, Yardi Matrix shows. Robinson Avenue has a daily traffic of 17,800 vehicles, according to Georgia Department of Transportation data.
Augusta is among the best positioned secondary markets in terms of self storage development. As of May, the metro area had six facilities under construction and seven more in the planning stages, totaling more than 1 million square feet.