Denver, CO – The Argus Self Storage Advisors team of Ben Vestal, Cole Carosella, and Matthew Cox are pleased to announce the successful sale of 303 Self Storage, a 66,850-square-foot, 607-unit facility located at 5885 W Colfax Avenue in Lakewood, Colorado. Situated on the heavily trafficked Colfax Avenue corridor, the property offers premium visibility in one of the most supply-constrained submarkets in the Denver Metropolitan Area.
“This is a true Class A infill asset in a dense, high-demand market,” said Ben Vestal, President & CEO of Argus Self Storage Advisors. “With barriers to entry and submarket square footage per capita well below national averages, this was a rare opportunity to acquire an institutional-quality facility in the urban core of Denver.”
The facility was operating at 85% unit occupancy and 87% square footage occupancy at the time of closing, with a mix of climate-controlled, drive-up, and interior units. The buyer was attracted to the asset’s modern construction, proven operating history, and potential for further revenue growth through rate management and tenant insurance programs.
“This transaction demonstrates the continued strength of the self-storage investment market in core urban areas, particularly those with limited new development,” added Cole Carosella, Vice President at Argus Self Storage Advisors. “303 Self Storage checks all the boxes — location, visibility, performance — and we were proud to represent the seller in this competitive process.”
The sale was handled by the Argus Colorado brokerage team of Ben Vestal, Cole Carosella, and Matthew Cox, who have collectively closed more than $400 million in self-storage transactions in Colorado since 2021.
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.
