CBRE announced the sale of a self-storage facility in Marietta, Georgia to New York-based investment company KKR for $18.1 million.

CBRE’s Self Storage Advisory Group represented the seller, private investor StorMaster, in the transaction.

Located at 1401 Powder Springs Road, the 73,300 square-foot property was originally constructed in 1996 on a four-ace lot. The single-story facility is less than 20 miles from Atlanta and is within a five-mile radius of approximately 176,00 residents.

“This is a very well-located asset in the ninth-largest metro in the nation,” said Morgan Windbiel, Senior Vice President of CBRE’s Self Storage Advisory Group. “With Marietta’s population growth and desirability, we expect that this facility will continue to thrive for years to come.”

Atlanta is ranked one of the top cities for young professionals, and it has the lowest relative costs of doing business in the country. There is strong population growth within the area surrounding this facility in Marietta, with 3,171 future residential units to be built within a five-mile radius (Esri).