By Eric Curl
May 30, 2022 – A real estate investment firm purchased the former Kroger on Savannah’s Southside with plans to convert the vacant building into a self-storage facility, according to sales and permitting records.
The Charlotte, NC-based subsidiary of Madison Capital Group purchased the property at 14010 Abercorn St. for $5.25 million on May 18. The purchase came a little over a week after the firm submitted a building permit application to renovate the building for use a Go Store It storage facility.
MCG is the company that is planning to demolish the former Sears at Oglethorpe Mall and construct an apartment complex at the site, as first reported by Savannah Agenda.
With a focus on multifamily and self-storage sectors, MCG has a history of developing the Go Store It facilities. In September, the firm announced the purchase of two locations in Texas, which would join an existing network of 63 of the facilities across the country.
“The acquisition pipeline remains robust and the management team will continue to focus on increasing scale in target markets,” according to the September press release.
The former Kroger site has been a magnet for illegal dumping since the grocery store closed in 2018, according to a recent WTOC report.
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