A joint venture paid just over $4 million for a south Buckhead property where it will develop a 120,000-square-foot self storage building. The location: less than an acre just off Peachtree Road along a future section of the Atlanta Beltline.
PVR (Peachtree Valley Road) Storage LLC, which includes Memphis real estate investors, bought the nearly 0.7-acre site, which is also just north of Piedmont Hospital. PVR Storage closed on site Feb. 27, according to Fulton County property records.
An affiliate of Parkside Partners was the seller. The property is a parking deck behind a medical office building that Parkside Partners, along with Georgia Hand, Shoulder & Elbow, developed a few years ago.
PVR wants to break ground on the self storage building this month, said Parkside Partners principal Kyle Jenks.
The Northside Beltline trail meanders through Buckhead alongside Tanyard Creek and Bobby Jones Golf Course. The pathway then stops just before it reaches Peachtree Road. Hundreds of apartment units overlooking the golf course have popped up along the trail's terminus at Colonial Homes and Dellwood drives.
The Northside trail’s future expansion calls for crossing Peachtree Road and Peachtree Creek near the planned storage building. The self storage project was approved last year, Jenks said. It will be designed to look like a class A office building.