Decatur, GA, Considers Land Annexation for Space Shop Self Storage Project

Update 8/22/18 – The Decatur Planning Commission has recommended against SIG’s proposed Space Shop Self Storage project. In reviewing the full proposal, commissioners indicated the facility wouldn’t fit the character of the area, and the required zoning change would set a bad precedent that could outweigh any financial benefit, according to the June 12 meeting minutes.

Several members of the community also spoke against the plan during public comment, urging officials to restrict commercial development to existing districts.

The commission was scheduled to review the issue on Monday.

6/1/18 – Officials in Decatur, Ga., are considering a request from Stein Investment Group (SIG), an Atlanta-based private real estate investment firm, to annex property into the city and rezone it to allow a Space Shop Self Storage development. SIG intends to build a three-story facility on a little more than an acre at 1119-1123 Clairmont Road. The company has also asked for a special exception to reduce the off-street parking requirement for climate-controlled self-storage from 167 spaces to 13, according to the source.

"The applicant is an experienced developer of several self-storage [facilities] and is confident the 13 spaces provided on the attached site plan will be sufficient for the customers and employees," SIG officials wrote in the application.

The site is comprised of three parcels, two of which are outside the city limit. “The approval of the special exception will be a positive impact because it will allow for the redevelopment with an attractive building and increase in tax base for the city, without demand on schools or other city infrastructure,” SIG officials wrote.

SIG has been active in the Atlanta metropolitan self-storage market. It’s currently working with Eden Rock Real Estate Partners to convert a former school-administration center in the Hammond Park neighborhood of the city to more than 100,000 square feet of storage space. Last year, it sold three facilities comprising more than 300,000 square feet to self-storage real estate investment trust Life Storage Inc. and a joint-venture partner.

Space Shop operates nine self-storage facilities in the Atlanta market and one in Goose Creek, S.C.

Headquartered in Atlanta and founded in 2012, Stein Investment has developed, managed and sold more than 1.75 million square feet of self-storage space. Its current portfolio includes approximately 1.2 million square feet of self-storage, with nearly 600,000 square feet under development in Georgia and North Carolina.

Sources:
Decaturish.com, East Lake MARTA Plan, Storage Facility Will Be on Aug. 20 Decatur City Commission Agenda
City of Decatur, June 12, 2018 Draft Meeting Minutes
Decaturish.com, Decatur Considering Annexation and Rezoning Proposal for Storage Business on Clairmont Road