Go Store It Opens Savannah Self Storage Facility

Go Store It Self Storage—a subsidiary of Madison Capital Group—has opened an 801-unit self storage facility in Savannah, Ga. The developer secured a construction loan of $9.6 million originated by Great Southern Bank, according to Yardi Matrix information.

This facility completion brought Madison’s footprint in the Savannah-Hilton Head self storage market to more than 370,000 square feet, the same data provider shows. The firm has another 214,000 square feet across two properties in planning and permitting stages.

The two-story property spanning 93,677 square feet is the adaptive reuse of a former grocery store. Amenities feature around-the-clock video surveillance, an all-climate-controlled unit count, as well as electronic building access.

Located at 1110 Fulton Road, the facility is close to Georgia Southern University Armstrong and south of State Route 204, while downtown Savannah is roughly 14 miles northeast. Yardi Matrix data shows nine other storage facilities within a 3-mile radius, providing residents with 14.1 rentable square feet per capita.

According to a recent Yardi Matrix report, self storage construction activity remained steady in spite of market slowdown. The national supply pipeline made up 3.7 percent of existing stock as of February, down 10 basis points month-over-month.

The Savannah-Hilton Head market’s pipeline had more than 500,000 rentable square feet as of April, accounting for 8 percent of stock and surpassing the national average by 430 basis points, Yardi Matrix data shows.