American Storage in Siloam Springs, Ark., was sold on March 26 for $1.4 million. The 58,125-square-foot self-storage facility was purchased by local investors as part of a 1031 Tax-Deferred Exchange, according to the Argus Self Storage Sales Network. The seller, First National Bank of Fort Smith, provided partial financing of the sale of the 8.8 acre site.
The broker of the transaction was Larry Goldman, an investment properties specialist with RE/MAX Best Associates - Commercial Division in Overland Park, Kan. Goldman represents Argus in Arkansas, Kansas, Missouri and South Illinois.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.