Shovel Ready, Class-A Self-Storage Development Opportunity – Duluth, GA
3140 Breckinridge Blvd, Duluth, GA 30096
This development opportunity consists of 6.9 acres of buildable land and will deliver with permitted plans for Class A storage consisting of 75,690 NRSF with potential for an additional 18,000 NRSF of parking. The unit mix will include 696 climate-controlled units ranging from 12.5 SF to 340 SF, with units averaging 109 SF. The facility will have a competitive advantage relative to other stores in its trade area as it will mainly be competing against vintage product.
This development site exists within a 7-building office campus in Gwinnett County, Atlanta’s second largest county by population and one of its fastest growing; Between 2010 and 2020, its population grew by a massive 18.8% and is expected to continue to grow by more than 400,000 residents by 2050. The Property is located adjacent to the Gwinnett Place Community Improvement District (GPCID), which has an annual economic impact of $13.4 Billion dollars per year and is home to 2,800 businesses. The property is also just 3-minutes from Gwinnett Place Mall, which is undergoing a billion-dollar revamp to become the cultural, dining, and entertainment capital of Gwinnett County.
The Property will address both the immediate area’s supply shortage, highlighted by just 5.91 square feet of storage space per person within a 3-mile radius, and the market’s aging stock, which averages 22 years of age. The lack of supply and limited viable land in the market for storage development bodes well for both future rent and occupancy growth at the property.
In all, this opportunity represents an excellent opportunity to acquire a class-A self-storage development site in one of the fastest growing counties in Atlanta, GA. With permitted plans in place, buyers will benefit from a quick project start-up, and are set to benefit from the facility’s superior quality and lack of competition in a market with high barriers to entry.