U-Haul Expands East Georgia Portfolio – Multi-Housing News
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The company has acquired a 422-unit recently completed property.
The facility, formerly known as Storage Hotel, is a three-story Class A building. Image courtesy of U-Haul
U-Haul has acquired an 84,000-square-foot storage facility in Grovetown, Ga. A private individual sold the former Storage Hotel asset, Yardi Matrix data shows.
According to the same source, the property was subject to a $4.1 million construction loan in 2021, provided by Queensborough National Bank & Trust Co.
Renamed U-Haul at Columbia Fairgrounds, the Class A facility came online in 2022. The three-story property sits on 2.3 acres and features 422 climate-controlled units, ranging from 25 to 250 square feet. Amenities include 24-hour video surveillance, electronic control access, contactless renting, loading carts, on-site manager and moving supplies.
Located at 5060 High Meadows Drive, the property has access to Interstate 20 and is 17 miles from downtown Augusta, Ga. The facility is one of the two available within a 3-mile radius, offering residents 7.1 rentable square feet per capita. The Augusta market had a supply pipeline of eight self storage properties in various stages of development as of August, set to add 241,047 square feet to the existing inventory, Yardi Matrix data shows.
With this acquisition, U-Haul will now expand its Augusta market footprint, which previously consisted of five storage properties, totaling 218,669 square feet, according to the same source.
The company has recently made several acquisitions throughout the U.S., which included purchasing a 396-unit facility in Houston, as well as a recently completed 91,096-square-foot property in Des Moines, Iowa.
Yardi Companies and Affiliates
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