Argus Broker Affiliates Peter Pappageorge and Doug Shea of INCO Commercial closed the U-Stor-It self storage portfolio on October 5, 2017. The portfolio is comprised of 21 assets totaling over 563,000 square feet with locations in New Mexico, Arkansas and Texas. INCO Commercial represented the buyers, Best Self Storage, who are a group of entrepreneurs from Southern California making their first foray into the self storage market. Robb Kone is the president of Best Self Storage and has over 15 years of expertise in the self storage business. Best Self Storage will enjoy the strong cash flow and the diverse geographic nature of this portfolio along with meaningful value enhancements through facility expansion, occupancy growth and revenue management.
The newly acquired facilities will be managed by Argus Professional Storage Management and operated under the existing U-Stor-It name. INCO and Argus’ extensive self storage expertise allowed Best Self Storage complete this very complicated transaction in under 90 days.
Peter Pappageorge and Doug Shea are the Argus Broker Affiliates representing Southern California and they can be reached at 562-498-3395 for details on this transaction. 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 Argus-SelfStorage.com.