Mobile, AL - Argus Self Storage Advisors Stuart P. LaGroue, Sr., and Bill Barnhill, CCIM, represented the seller of Anchor Self Storage & West Park Center, located in Mobile, AL. The facility consisted of 245 self-storage units totaling 26,400 RSF of regular storage, climate control and both covered and uncovered parking. Additionally, the facility had 20,950 RSF of retail, commercial and warehouse space. This opportunity presented a tremendous amount of upside in terms of operations and increasing rental rates on existing tenants as well as pushing street rates to be more in line with the market. There is also substantial room for expansion of the self-storage component. It was purchased by Magnolia Point MHP, LLC, for $2,900,000 and closed on May 25, 2022.
Bill and Stuart are the Gulf Coast region broker affiliates of Argus Self Storage Advisors. They can be reached at 251-432-1287. 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.
Pros and Cons of Self Storage SBA Loans vs. Traditional Loans
Decide wisely between SBA and traditional loans for your self-storage business. SBA offers lower down payments, but traditional loans provide lender reliability. Make informed investment choices for your storage facility.