Go Store It, an alternative investment sponsor that focuses on self-storage properties, has purchased a newly constructed storage facility located in Charleston, South Carolina for $8 million.
The 342-unit, 43,350-square-foot facility is fully climate controlled and will be branded Go Store It. The company currently owns five other properties in the Charleston market.
“This acquisition presented a unique opportunity for Go Store It,” said Ryan Hanks, founder of Go Store It. “On a personal level we are big fans of Charleston and see the demand for quality self-storage in the area. The James Island sub-market has significant barriers to entry, and we are very pleased to own an institutional quality asset there.”
Based in Charlotte, North Carolina, Go Store It is an affiliate of Madison Capital Group LLC and specializes in the acquisition, development and management of self-storage assets throughout the county. The firm currently owns more than 2.2 million square feet of storage space and has another 900,000 square feet in the pipeline through acquisitions and development.