Denver, CO- Joan Lucas, of Joan Lucas Real Estate Services, arranged the sale of U-Stor-All in Denver, Colorado. The sale closed June 2020. This was a very unique opportunity to acquire a well-established self-storage project in the city of Denver. The project consists of 56,15 SF of self-storage with 323 units, as well as 34,400 NRSF of small industrial units. The facility has been extremely well maintained and has held strong occupancies over the years.
What made this deal so interesting is that along with mini storage, the facility included 25 small industrial spaces. The small bay industrial component of this project is a nice complement to the self-storage as it allows the industrial tenants to grow in a very flexible manor. The fact that developers are now focused on delivering large blocks of industrial space, makes these smaller spaces that much more valuable. Joan received more than five very qualified offers on this investment and the cap rate on this deal was around 5.75% representing the improving investment market for self-storage deals in metro Denver. The Buyer was an out of state institutional investor.
Joan Lucas is located in Denver, CO and is the Argus Broker Affiliate representative for the state of Colorado. She can be reached at 720-855-6587. Based in Denver, Colorado, Argus Self Storage Advisors 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, Argus 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.
