Augusta Self-Storage Changes Hands
The facility’s surroundings feature a strong demographic profile for storage with a high amount of renter-occupied housing units in the flourishing Augusta market.
AUGUSTA, GA—Marcus & Millichap brokered the sale of Midway Storage and Rentals, a 21,664-NRSF self-storage facility located in Augusta, GA, according to Ari Ravi, regional manager of the firm’s Tampa office.
Michael A. Mele and Brian Fulton, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, and secured and represented the buyer, both of whom were private investors who were not identified. Michael J. Fasano, broker and regional manager, assisted in closing this transaction.
“We enjoyed working with the owner to maximize the value of his facility and the expansion potential for the location. We believe this transaction represented a unique opportunity for the buyer to generate additional value by way of a previously-approved expansion opportunity at the site,” says Fulton.
Midway Storage and Rentals is located at 1735 Barton Chapel Road in Augusta. Strategically situated near Interstate 520, the facility’s surroundings feature a strong demographic profile for storage with a high amount of renter-occupied housing units in the flourishing Augusta market. The 175-unit facility has a high year-round physical occupancy and offers many expansion opportunities to match the area’s growing population.