Madison Capital Group launched the Go Store It Opportunity Fund, LP, a $250 million self-storage investment initiative aimed at acquiring and developing a diversified portfolio across high-growth Sun Belt markets, concentrating on Florida, North Carolina and Georgia.

The Go Store It Opportunity Fund, LP encompasses a strategy that value-add acquisitions of under-managed, locally owned facilities with below-market rents, create potential for rental growth and operational improvements. The fund will also pursue pre-stabilized acquisitions, enabling it to acquire properties at a discount, with valuations nearing replacement cost and potential for improved cap rates as the properties stabilize. Additionally, the fund will target stabilized assets with strong occupancy rates, providing incremental growth in high-demand areas.

The fund also integrates a development component to construct high-quality storage facilities in select markets with favorable supply-demand dynamics. By strategically building in suburban, urban fringe, and urban core areas, the fund aims to meet diverse storage needs across communities in the Sun Belt.

Charlotte-based The Providence Group completed four retail lease transactions totaling nearly 100,000 square feet across the Carolinas. The activity includes two transactions with HomeGoods, as well as additional deals with Homesense and T.J. Maxx. 

The Providence Groups Melissa McDonald, who represented the company in the transactions, added, “Competition for retail space is high, fueled by increased demand across the Carolinas as retailers seek space, whether in newly-built or redeveloped centers. Vacancies are being driven down and there is an overall lack of supply, which is causing rents to continue rising.” 

HomeGoods opened new stores at University Commons (22,000 square feet) in Greenville, NC and Beaufort Station (24,000 square feet) in Beaufort, SC. In a second deal at Beaufort Station (photo), T.J. Maxx has relocated within the market, signing on for 24,000 square feet.

Lastly, Homesense has opened a nearly 30,000-square-foot store at Sea Turtle Marketplace on Hilton Head Island.

Hunter Hotel Advisors arranged the sale of three metro Atlanta hotels on behalf of Ashford Hospitality Trust. Baywood Hotels acquired the Hampton Inn Lawrenceville, and Pulse Hotel Group acquired the Fairfield Inn & Suites and SpringHill Suites Atlanta Kennesaw.

The 85-key Hampton Inn Lawrenceville is about 30 miles north of Atlanta on State Route 316 and Interstate 85. It is within Gwinnett’s hub of numerous manufacturing and distribution facilities for Publix, McKesson and Amazon. The hotel sits adjacent to Northside Hospital Gwinnett which is currently undergoing a $400-million expansion scheduled for completion in 2025.

The 86-key Fairfield Inn and Suites and 90-key SpringHill Suites Atlanta Kennesaw are located less than a mile apart and benefit from the same demand generators spanning education, leisure and logistics. The hotels are close to Kennesaw State University.

Hunter’s David Perrin represented the seller.

Spartan Investment Group has closed three self-storage deals in the firm’s Growth Fund, including one in Kingsland, GA.

“At a time when it is challenging to secure loans, find equity, or fund new construction, we’re forging ahead in a strategic direction with our deals,” said Spartan CIO, Ryan Gibson. “We are thrilled to add these three deals to our Growth Fund portfolio as they are all in fast-growing markets with the opportunity to add value, and thus, develop strong returns for our investors.”

The Kingsland location is a new Class A facility with 333 units and more than 30,000 rentable square feet. The Spartan team will transition the property into the FreeUp Storage brand, the national banner in which Spartan manages its 66-property portfolio, and expects to expand the facility’s footprint by an additional 20,000 square feet.

The other locations are in Belleview, FL and Pea Ridge AR.