West Memphis, AR- Larry Goldman, CCIM of RE/MAX Commercial sold the Storage Depot in West Memphis, AR on February 19, 2020. The sale closed for $8,875,000. The Storage Depot is a traditional and climate-controlled self-storage facility which is the market leader in both rental growth and occupancy rates. The buyer, AKA Partners, LLC, based in Murray, Utah, will expand the facility on the adjacent 3 acres and has contracted with Argus Management for third party management services. Barclays provided fixed rate CMBS financing for the existing facility and the seller was DSB of West Memphis, a partnership of David Reagler, Scott Ferguson and LaRand Thomas.
The facility is an example of a developer building and managing a best in class facility that commanded national attention in a predominantly locally owned submarket of the Memphis, TN metro area. The facility offered strong operating history and successful growth trends through strong management and expansion.
Larry Goldman, CCIM is the Argus broker affiliate representing Kansas, Missouri, Arkansas and Southern Illinois. He can be reached at 913-707-9030. 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.