MEMPHIS, Tennessee – Absolute Storage Management (ASM) entered the St Louis market with the recent purchase of Mr. B’s Storage of Imperial, Missouri. The property was built on six acres in 2002 and contains 50,600 square feet and 325 units.
“We are excited to be entering the state of Missouri” said Absolute Storage Management president Michael Haugh, CCIM. “This asset needs a fair amount of work but it’s on well-traveled street in a nice community. We will rebrand the property and go to work cleaning it up.”
Larry Goldman, CCIM, from the Argus Self Storage Sales Network, represented the seller in the transaction. The property sold for $1,100,000 and was 60% occupied at the time of the sale. The facility, which is just off Interstate 55 in the St. Louis metro on welltraveled US Highway 67, provides an outstanding value add opportunity for ASM. Centennial Bank of Conway Arkansas provide financing.
Absolute Storage Management
Absolute Storage Management (ASM) is a self-storage management company founded in 2002, and is the largest private provider of third-party management services in the United States. ASM holds its headquarters in Memphis, TN with regional offices in Atlanta, GA; Charlotte, NC; and Jackson, MS. The company operates over 90 properties in thirteen states.
For further information and news about Absolute Storage Management, please go to the ASM website at www.absolutemgmt.com. Contact Grace Anderson at email@example.com or call her at 901-737-7336 ext. 705.
Argus Self Storage Sales Network
Larry Goldman, CCIM is the Argus Self Storage Sales Network broker affiliate for the states of Missouri, Kansas, Arkansas and Southern Illinois and he can be reached at 913- 707-9030. 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. 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.argusselfstorage.com.