Metro Storage LLC, which operates more than 80 self-storage facilities in 11 states, has purchased the three-property Atlanta portfolio owned by Georgia Self Storage. The facilities comprise 230,435 rentable square feet in 1,775 units. The acquisition increases the number of Metro Self Storage facilities in the region to 12.
“The acquisition of these three quality self-storage facilities fits well with Metro’s current Atlanta store portfolio and our overall strategic growth plans.” said Matthew Nagel, chairman of Metro Storage.
Two of the facilities are in Lawrenceville, Ga., and one is in Rex, Ga. The first Lawrenceville property, at 2220 Lawrenceville Highway, comprises six self-storage buildings, while the second, at 1935 Buford Drive, has three buildings. Both facilities offer climate-controlled and drive-up units as well as vehicle storage.
The Rex property at 6472 Highway 42 comprises seven storage buildings and offers climate-controlled and drive-up units as well as vehicle storage, including boat, RV and truck parking.
Metro Storage closed on all three properties on June 3. “This is an exciting acquisition for us.” said Blair Nagel, Metro Storage CEO. “It will enable us to leverage our strong presence in the Atlanta market to maximize revenue and occupancy at the new stores, while continuing to deliver an exceptional storage experience for our customers.”
Dale C. Eisenman, president of Midcoast Properties Inc., a commercial real estate brokerage specializing in self-storage, represented the seller in the transaction. The company offers brokerage services in Georgia, North Carolina and South Carolina.
Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide.
