The self storage industry has been expanding rapidly lately and shows no sign of slowing down as the holiday season approaches. Store Here LLC recently added three new properties in Kansas to its portfolio. This new addition follows the recent acquisition of 13 new properties less than a month ago in Georgia, Kansas and Texas for $48 million.
Store Here purchased 3 Class A self storage facilities which total over 269, 000 rentable square feet. Located in the high growth western areas of Shawnee, Kansas and Kansas city, the facilities have experienced an average occupancy of 90%. According to a press release issued by the company, the decision to expand further into Kansas City is based on the stability, steady growth and attractive investment returns that many national players have experienced in the city to date.
Currently, the acquisition is being handled by Store Here Self Storage Property Management, which is based in Orange California. The seller was represented by Larry Goldman of CCIM of RE/MAX Commercial, who is the Sales Network Broker Affiliate for Argus Self Storage.
Store Here’s acquisition last month comprised more than 855, 000 rentable square feet in more than 6, 000 properties.
“Working to close this many assets with multiple sellers can be tricky, but the tenacity of our team and financial partners brought peace of mind amidst a multitude of complications that ended with successful closings,” said James J. Hanrahan, acquisitions director for Store Here Self Storage, the operating brand of Store Here LLC.
Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) 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 ASSSN 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.