Denver, CO – The Argus Self Storage Advisors team of Ben Vestal, Cole Carosella, and Matthew Cox are pleased to announce the successful sale of Bobcat Self Storage, a two-property self-storage facility located at 124 Gay Street and 960 Elgin Avenue in Longmont, Colorado. The facility comprises 11,434 rentable square feet across 68 units and was sold to a private investor following a competitive marketing process.
“Longmont’s supply-constrained environment and high barriers to entry made this an especially attractive opportunity for buyers seeking stable cash flow with future upside,” said Matthew Cox, Director of Valuation & Budgeting at Argus Self Storage Advisors. “With no new facilities expected to be delivered in the immediate trade area over the next two years, Bobcat Self Storage is well-positioned for continued rent growth.”
Bobcat Self Storage benefits from a prime infill location within Longmont’s urban core, serving a dense residential and commercial customer base. The facility was operating at 81% economic occupancy at closing and features below-market rental rates, offering the buyer a clear path to value creation through rate optimization, expense management, and tenant insurance revenue.
“Transactions like this one underscore investor confidence in well-located, smaller-scale assets within dynamic growth markets,” added Cole Carosella, Vice President at Argus. “Despite continued capital market headwinds, we are seeing meaningful demand for quality self-storage investments with operational upside.”
The transaction was brokered by the Colorado-based Argus team of Ben Vestal, Cole Carosella, and Matthew Cox, who together have closed over $400 million in self-storage transactions throughout the region 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.
