STEIN TO INVEST $17.2M TO DEVELOP SELF STORAGE IN METRO ATLANTA

ATLANTA — Stein Investment Group has initiated its $17.2 million investment to bring nearly 250,000 square feet of self storage space to metro Atlanta. Construction is underway on Decatur Street Self-Storage in Atlanta's Old Fourth Ward neighborhood. The five-story property will span 110,000 square feet and include 854 units. The property will include two oversized elevators, covered loading/unloading area, drive-up exterior units and a conference facility. Stein also closed on the site for Johnson Ferry Self-Storage in East Cobb, a submarket located north of Atlanta. Both properties are slated for an early 2014 completion. Stein is planning on investing $6.5 million in the three-story Johnson Ferry property, which will span 90,000 square feet and include 573 units. The facility will include storage supplies, coffee bar, Wi-Fi access, community bulletin boards, two oversized elevators, climate-controlled units and climate-controlled wine storage. Atlanta-based Universal Self Storage manages Stein's storage facilities.