Minneapolis, MN- Tom Flannigan and Alex Ihrke of KW Commercial Minneapolis, broker affiliates of Argus Self Storage Advisors, listed and sold East River Mini Storage in Coon Rapids, Minnesota. The property sold for $630,000 which represents a cap rate of 5.7%. Flannigan and Ihrke’s marketing efforts were able to procure a buyer who is using the property as a replacement property in a 1031 exchange.
Tom and Alex are the Argus broker affiliates representing the states of Minnesota, North Dakota and Iowa. They can be reached at 651-269-6307. 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.