The strength of major metro sub-markets in the Southwest was tested this summer with the sale of the Coronado Self Storage portfolio in Bernalillo, New Mexico, a suburb north of Albuquerque. The three separate self storage properties, operated as one facility by the present owner, contained 81,943 rentable square feet in 633 units and were built over and eight year period from 1993 to 2000. Exclusively represented by David Etzold of Etzold & CO, this sale achieved a Cap Rate of 6.5%. Listed in late March, the property went under contract in April and closed in August 2016. Etzold attributes the successful listing and sale to the regional strength of the Sun Belt and a lack of competitive offerings at this time in the marketplace.
About David Etzold
David Etzold is the New Mexico and West Texas representative for the Argus Self Storage Sales Network and he can be reached at 915-845-6006 or email@example.com. Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the ASSSN has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit www.argus-selfstorage.com.