Minneapolis, MN- A growing Minnesota self storage operator has acquired Northside Mini Storage, a 178-unit, 26,000 square foot drive-up self storage facility in Elgin, Minnesota.
The facility provides significant value-add potential through continued lease-up and improved management. It offers great regional accessibility with convenient access to MN Highway 42 and County Road 25, drawing tenants from surrounding communities. Spanning more than 13 acres across two parcels, the site includes 10 adjacent acres to support future expansion, such as additional storage units, outdoor parking, or future commercial growth. The facility features high quality, all-steel Trachte drive-up units situated on an asphalt-paved lot, with a fenced yard enclosing the parking area.
The property sold for $1,150,000, further reflecting continued investor confidence in secondary Minnesota storage markets, particularly for assets with meaningful upside and development runway.
The transaction was brokered by Alex Ihrke, Tom Flannigan, and Nathan Gottlieb of Area Storage Advisors, affiliates of Argus Self Storage Advisors, who represented the seller in the sale and procured the buyer.
“This transaction created a win-win outcome and delivered a high-quality asset to a well-positioned local operator. I’m excited to watch them enhance performance and drive additional value at the facility,” said Ihrke, who represented the Seller.
Tom, Alex and Nathan are the Minnesota, Iowa and North and South Dakota Broker Affiliates for the Argus Self Storage Advisors and specialize in Self Storage investment properties.
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.
