KKR has purchased a self-storage facility in Marietta, GA for $18.1 million. CBRE represented the seller, private investor StorMaster, in the transaction.

The 73,300-square-foot self storage property on Powder Springs Road was originally constructed in 1996 on a four-acre 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, SVP 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.”

According to CBRE, 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.