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.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
