The four-story, 140,000-square-foot facility with a basement would be located at 4470 Chamblee Dunwoody Road, according to construction plans. The site is located off I-285, behind a Kroger. The facility is expected to break ground this fall.
Georgetown Storage comes from Coro Realty Advisors and is one of several self-storage sites the Atlanta-based commercial real estate investor has in the pipeline.
In addition to the Dunwoody site, the firm is planning a two-story storage facility in Woodstock called Ridgewalk Storage. This year, they also broke ground on Lake Lanier Storage, a 75,000-square-foot facility and a 49,000-square-foot boat storage building in Flowery Branch. The second phase of Auburn Avenue Storage, a three-story, 57,000-square-foot facility in Columbus, was recently completed.
“I think there’s a very high risk of oversupply of self-storage,” Coro President Robert Fransen said in an announcement about the projects. “We’re taking kind of a longer-term view that the supply and demand equation will normalize in the long run.”
The self-storage vacancy rate in Atlanta is expected to rise to 9.5 per cent this year, according to the firm.
