Jared Jones, CCIM of Argus Self Storage Advisors and Jones Investment Real Estate, is pleased to announce the sale of the Fortress Self Storage portfolio. Fortress Self Storage is a value-add 198,802 rentable square foot, storage portfolio comprised of four properties located in Lawton, OK. The portfolio sold to a private Buyer. The property has significant upside available through increased focus on revenue management strategies, implementation of tenant protection/programs and future expansion. The Buyer was seeking a value-add opportunity they could improve by upgrading operations and accomplishing scale within the local market.
The deal was evident of a common theme of storage investors seeking value-add opportunities in secondary markets relative to replacement cost. The Buyer and Seller were both pleased with the execution of all parties involved in light of the current challenging transaction environment.
Jared Jones, CCIM is the Argus broker affiliate representing Oklahoma. He can be reached at 918-948-3941.
Based in Denver, Colorado, Argus Self Storage Advisors (Argus) 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 Argus network 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.
Contact