Joan Lucas, of Joan Lucas Real Estate Services, sold Citadel Self Storage, located at 3979 Bijou St. in Colorado Springs, CO on December 21, 2017 for $3,050,000. Citadel Self Storage is comprised of 35,000 gross square feet of self storage, two 1,768 square foot duplexes, and 81,000 square feet of ground approved for an immediate expansion that could double the size of the property. In 2017 the sellers created a new entrance with monument signage to the site off of Pikes Peak Avenue. The new entrance, along with good operating history, made this a great opportunity for an investor. Argus Professional Management will be managing the property for the new owner.
Additionally, Joan Lucas is pleased to announce the sale of Handy Storage, located at 2045 Coronado Pkwy in Thornton, CO. Handy Storage was sold on December 11, 2017 for $3,221,237. The property offers 215 units and 32,464 rentable square feet of storage. The seller had owned the property for approximately ten years and had dramatically increased revenue over that time. He decided that this year would be the best time to sell in order to take advantage of the current market. The buyer is a strong Colorado operator, and although the property did have some deferred maintenance, the strong track record and neighborhood location allowed the sale to be completed to everyone’s satisfaction.
Joan Lucas is located in Denver, Colorado and is the Argus Self Storage Sales Network broker affiliate for the state of Colorado. She can be reached at 720-855-6587. 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. 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.