As appeared on ccr-mag.com
March 16, 2023
Birmingham-based Capital Growth Buchalter (CGB) is pleased to announce the formation of Capital Growth StoreGuard (StoreGuard), a new affiliated company focused on the ever-growing self-storage industry. StoreGuard recently closed on its first value-add acquisition in Hinesville, GA. The existing facility has 39,236 SF of storage space and 358 units. StoreGuard is making significant investments in the property to add over 12,000 SF and 137 new units, as well as improve security, cleanliness, and operational efficiencies.
The principal leaders of the new company, which is based in Atlanta, GA, are Mike Vahle and Eric Buchalter, who bring a wealth of experience in the self-storage industry, real estate development, and organizational leadership to the venture. In addition, the CGB corporate platform lends expertise in finance, legal, construction, design, project management, and accounting to help evaluate, value-engineer, and maximize each project’s output.
“Our private ownership structure facilitates our agile, imaginative approach to deal-making and value creation. We bring strong relationship networks and depth of experience as we execute StoreGuard’s strategy to develop new Class-A self-storage assets and acquire value-add opportunities,” said Eric Buchalter, who is a third-generation real estate development professional.
Vahle recently joined Buchalter to found StoreGuard after spending the past several years as a real estate development executive at Public Storage (NYSE: PSA), the industry’s largest owner/operator of self-storage facilities. “The self-storage industry is highly fragmented, with more than 20,000 facilities in the U.S. being managed by non-institutional owner/operators. We see tremendous opportunity to upgrade these legacy facilities with climate-controlled units, enhanced security features, and other modern amenities that our customers expect – just like we are doing at our Hinesville facility.”
The company will partner with industry-leading management companies to operate their facilities and ensure a great customer experience. While the team is primarily focused on the Sun Belt region of the U.S., they remain opportunistic throughout the continental U.S.
StoreGuard is also committed to making a positive contribution to its community, to being a good corporate citizen in all its actions, and to implementing environmentally responsible practices in every aspect of its operations. The company will follow the precedent set by affiliate company, Capital Growth Buchalter, by committing time and resources to charitable causes that are meaningful to members of the team and the communities they serve.
The team will also endeavor to curb energy consumption through sustainable building design and construction practices. Motion-activated LED lighting, high-efficiency HVAC systems, and well-insulated buildings will be standard in its storage facilities. They are also exploring the use of solar panels on current and future projects.
For additional information, please visit www.storeguard.com. Capital Growth StoreGuard is an Atlanta, Georgia-based company that develops, acquires, and repositions self-storage facilities.
