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Chicago & Midwest  + Midwest  + Industrial  |  March 29, 2024
Jasmine Kilman
By: Jasmine Kilman

Missouri Self-Storage Facility Sells to Investment Group

Liberty Bend Self-Storage, a 482-unit, 60,050-square-foot facility in the northeast corner of the Kansas City metro, has traded. Larry Goldman, CCIM, a broker with Argus Self Storage Advisors (Argus) representing Kansas, Missouri, Arkansas and Southern Illinois, represented the seller in the transaction.

Located in Liberty, Missouri, the facility is an established Russell Family Real Estate, LLC, and it sold to a local investment group that acquired the facility as the final leg in a 1031 Tax Deferred Exchange. Liberty Bend is a value-add opportunity, and the buyer is planning to streamline management with updated systems and marketing channels.

Economic occupancy was approximately 70% at closing, and the property sold for an approximate six cap rate. Based in Denver, Colorado, Argus has a network of real estate brokers experienced in self-storage and income property investments covering nearly 40 markets.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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