Jared Jones, CCIM represented the Seller of A Storage Closet, a three-property portfolio comprised of 42,943 rentable square feet located in Ada, OK. This facility has consistently operated at an above market occupancy with sound management, marketing, and superior facility amenities. The project is ideally situated within a densely populated area providing easy access to the highway systems, neighboring commercial real estate developments, and is surrounded by dense residential development.
This acquisition was an interesting tertiary market case study, as there was significant amount of interest in the opportunity to acquire this well positioned, stable property in a smaller market. A great illustration of a larger trend in investors becoming increasingly comfortable deploying capital into smaller markets with higher yields, and less institutional level competition for deals. The property sold on August 15, 2017 at a 7% cap rate.
Jared Jones is located in Tulsa, Oklahoma and is the Argus Self Storage Sales Network broker affiliate for Oklahoma. He can be reached at 918-583-3483. 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 Argus-SelfStorage.com.