Larry Goldman, CCIM, of RE/MAX Commercial, recently closed multiple self storage transactions in the Central U.S. 265 Super Storage, a 58,665-square-foot facility in Springdale, AR, sold as the second leg of a 1031 exchange. This sale exemplified the trend for investors to convert storage properties from other property types, in this case an RV Park. The property enjoys high occupancy and excellent visibility near US 265 and US 412 in Springdale, AR in the Northwest Arkansas Corridor. The property was built in 1995 and has 375 storage units and 75 outdoor parking spaces which are proposed to be converted to climate controlled buildings. Larry Goldman represented the seller and Absolute Storage Management will take over the property management role for the new owner.
Additionally, Larry represented the buyer and seller of Adams Storage Systems in Farmington, MO. The property sold on November 15, 2016 and represents the first phase of a 5.5 acre storage development. The buyer plans to expand the facility as soon as possible, as the property has already enjoyed rapid lease up since opening in September 2016. The first phase was comprised of 140 conventional units, 96 climate controlled units and 35 outside vehicle spaces with a well-appointed 1,260-square-foot office/apartment.
Larry also sold Crestline Storage in Lansing, KS on November 14, 2016. This transaction was driven by a series of 1031 exchanges from farm land in Nebraska into self storage. The buyer plans to expand this 65,116-square-foot facility as soon as possible. Currently the facility offers 123 conventional units, 3 office/warehouse units and a 1,500-square-foot office/apartment.
Larry Goldman, CCIM is the Argus Self Storage Sales Network broker affiliate representing Kansas, Missouri, Arkansas and Southern Illinois. He can be reached at 913-707-9030. 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 38 Broker Affiliates covering nearly 40 markets and a total self storage transaction history of over $2 Billion. 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.