The self-storage industry has been rapidly growing in a booming economy and continued success in multi-family development and lease-up, especially during the pandemic while people were cleaning out garages and making room for home offices and a myriad of other reasons. Adams Property Group took advantage of the heated market and the opportunity to reap the benefit for its investors in Q1 of this year.
Monster Self Storage Grand Oaks (SC), Monster Self Storage Savannah (GA), and Monster Self Storage Winston Salem (NC) sold on March 11, 2022, for $48.5 Million. All three properties will be re-branded as Life Storage facilities.
Adams Property Group manages a portfolio of more than 1.9 million square feet of self storage - 22 properties - which includes Monster Self Storage locations in South Carolina, North Carolina, and Georgia, and Your Storage Units locations throughout South Carolina, Georgia, and Florida.
The newest Monster Self Storage facility was completed by A.L. Adams Construction (an owned affiliate of Adams Property Group) this month in Valdosta, GA, and another location is near completion in Statesboro, GA., which will open in May. Adams Property Group also owns nearly a million square feet of retail and flex space in South Carolina, North Carolina, and Georgia. Its non-storage investment portfolio is comprised of grocery-anchored retail, non-anchored retail, and business park type flex industrial facilities.