JLL Closes Sale of 3-Property, 2,456-Unit Self-Storage Portfolio in Augusta MSA for Rialto Capital

JLL Capital Markets has completed the sale of a three-property, Class A self-storage portfolio totaling 2,456 units and 256,685 square feet across the Augusta, Georgia metropolitan statistical area, the firm announced Sept. 2.

JLL's Capital Markets Self Storage team represented the seller, investment vehicles managed by Rialto Capital, and procured the buyer, Storage Star.

Portfolio Properties and Amenities

The portfolio comprises three assets developed between 2020 and 2022: 159 Cooper Drive in Augusta, Georgia; 1573 Hamilton Drive in Aiken, South Carolina; and 522 Cork Tree Bend in North Augusta, South Carolina. All three properties have been institutionally maintained and carry an aggregate physical occupancy of approximately 85%.

Amenities across the portfolio include electronic gate access, climate-controlled units, digital camera systems, and covered loading and unloading docks. The Aiken and North Augusta facilities also offer boat and RV storage, and the Aiken property includes wine storage units.

The Augusta facility at 159 Cooper Drive, located near Riverwatch Parkway, opened in early 2021 and offers multiple levels of climate control targeted at premium storage customers. The Aiken property at 1573 Hamilton Drive pairs climate-controlled units with specialty storage options. The North Augusta asset at 522 Cork Tree Bend offers both climate-controlled and drive-up units along with vehicle and RV parking.

Augusta MSA Market Fundamentals

Average household incomes across the three trade areas reach $109,000, above the national average. The Augusta MSA's economic base is anchored by Fort Eisenhower, the Savannah River Site, and an expanding healthcare and professional services sector — a mix that generates recurring demand for self-storage from military personnel relocations, small businesses, and higher-income households storing recreational equipment and furnishings.

Average self-storage rents in the Augusta market run approximately $115 per month across unit sizes and product types, with non-climate-controlled units ranging from roughly $27 per month for a 5-by-5-foot unit to approximately $70 per month for a 10-by-10-foot unit.

The portfolio is approaching stabilization, with the 85% occupancy rate representing a lease-up profile that offers continued upside through occupancy gains and revenue management. Institutional self-storage assets typically target stabilized occupancy in the 90% to 93% range.

Buyer and Seller Profiles

Storage Star is a vertically integrated self-storage investment and operations platform with more than 120 facilities across 21 states. The company focuses on owning and operating premium self-storage properties in select U.S. markets.

Rialto Capital is an integrated real estate investment management and asset management firm that invests across the real estate capital structure, including properties, loans, and securities. The Miami-based firm has offices in New York and other locations throughout the United States.

About JLL Capital Markets

JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, offering investment sales and advisory, debt advisory, mergers and acquisitions, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory services. The group has more than 3,000 specialists in offices across nearly 50 countries.

JLL reported annual revenue of $26.1 billion and operates in more than 80 countries with a global workforce exceeding 112,000 as of June 30, 2026.

Sources

JLL Newsroom — 3-Property Augusta, GA MSA Self-Storage Portfolio Trades