BROKEN ARROW, OK – Jared Jones, CCIM of Jones Investment Real Estate, LLC, the Oklahoma affiliate for Argus Self Storage Advisors, is pleased to announce the successful sale of Extra Space Storage (Third Party Managed). The institutional grade asset, located in Broken Arrow, Oklahoma from a private Seller to a private Buyer.
The 48,685 rentable square foot, stabilized, self-storage facility with expansion opportunity and a retail pad site is well located within the Tulsa MSA, offering convenient access to surrounding residential neighborhoods and major transportation corridors. The property attracted strong investor interest due to its market positioning, stable operating fundamentals and upside via expansion and pad site disposition potential.
Jared Jones, CCIM, of Jones Investment Real Estate, represented both the seller and the buyer in the transaction.
“Stabilized, institutional-quality, REIT-managed assets with multiple levers to improve investor returns are a rarity in this market,” said Jared Jones, CCIM. “The buyer recognized the unique combination of day-one yield and significant runway provided by the expansion and pad site disposition. Even within a normalized interest rate environment, well-located storage assets continue to command a premium and remain a shining star for real estate investors. “
This transaction further underscores Argus Self Storage Advisors and Jones Investment Real Estate LLC’s continued focus on the successful disposition of self-storage assets and delivering strong outcomes for its clients.
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.
