JUSTIN LANGLOIS SELLS SOUTHERN MINI-STORAGE
The 119-unit self-storage facility known as Southern
Mini-Storage, in Denham Springs, has sold. The sale closed last
week for a total price of $499,995. The sale price calculates to
about $4,275 per rentable unit. The seller was Dan Bar, represented
by Barbara Kelly. The purchaser was CCCG Enterprises, represented
by Bethany Laukhuff. There are 117 rentable units, 83 of which are
climate-controlled; 36 units are dry storage. The property is on
La. Highway 16, just north of Magnolia Beach Road. The property
includes some vacant land along the rear, which the new owner plans
to develop for RV and boat storage. The mini-storage facility was
built in 2007, and Justin Langlois with Mike Falgoust &
Associates, who brokered the transaction, says it is in
excellent condition. Langlois says the property was purchased below
what he considered to be its market value and that it represented a
relatively high return for the new owners.
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