Jared Jones, CCIM is pleased to announce the sale of Dempewolf Mini Storage located in Ponca City, OK. Dempewolf Mini Storage is a 36,355 rentable square foot, storage facility with additional acreage for expansion. It was sold by the original developer to a regional, private Buyer. The property has significant upside available through increased focus on revenue management strategies and future expansion. The Buyer was seeking a value-add opportunity in a market where they had an existing presence and ability to leverage their management platform to increase their scale within the local market.
The deal was acquired well below replacement cost and had significant interest, with ten offers during the first week of coming to market. The market theme of pricing discovery was evident while navigating through the multiple bid sheets.
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.
