Boardwalk Storage Fund II has acquired two properties in the metro-Atlanta area. Consistent with Fund II criteria, both properties are located in fast growth areas with average household Income over $70,000.
Properties Boardwalk Storage-Grant Road is located on Grant Road in Dawsonville, GA. Directly on GA400, this property has nearly four acres of self storage, boat and RV parking and 7,150 Sq. Ft. of retail and office space. The property’s proximity to both Lake Lanier and North GA Premium Outlets, with traffic counts greater than 23,000 cars per day, has further contributed to its success.
Boardwalk Storage-Crossroads, located in Cumming, GA, boasts five acres of Self Storage and Boat & RV parking. It includes 25,000 Sq. Ft. of self storage and 12,000 Sq. Ft. of fully enclosed boat & RV parking. Additionally, it is located close to Lake Lanier and is highly visible from GA400.
Both properties will be automated with a self-service kiosk, Website Rentals and a 24-hour call center.
Rajen Sheth, CEO, says, “Technological advances in self storage leasing and management have now removed a major barrier to consolidation of self storage assets in secondary markets. Thanks to the introduction of low-cost automated systems, many self storage properties can now be completely unmanned.”
Boardwalk II Strategy
The Boardwalk II Strategy is to acquire dislocated self storage assets in secondary and tertiary markets throughout the southeast with the goal of applying the latest technologies. This will provide customers with a higher level of service while simultaneously reducing management costs. The Boardwalk II platform has a stated goal of acquiring 60-80 cash flowing properties in the southeast region.