ARGUS BROKER AFFILIATES SELL LARGEST FACILITY IN KENTUCKY
Paul Grisanti, CCIM and Mike Helline, of Grisanti Group Commercial Real Estate, sold Storage Solutions, located at 11440 Blankenbaker Access Dr. in Louisville, KY. This 110,000 RSF property sold on April 29, 2015 for $10,165,000. The facility is one of the largest in the state of Kentucky with 776 units and is located on the edge of an industrial park serving both residential and business customers. The owner built this facility in three phases over a ten year period. He built phase 1 in 1998 and grew the business to over $1,000,000 in annual rental income. Grisanti Group kept in touch with the owner over the years and kept him informed of the market conditions. The owner recently decided that the time was right for him to consider retiring, and this decision became much easier with the knowledge that it was a seller’s market. The property was purchased by W.P. Carey, Inc., a New York-based REIT and will be managed by Extra Space.
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. For more information call 1-800-55- STORE or visit www.argus-selfstorage.com.