Michael L. McCune, founder of the Argus Self Storage Sales Network (ASSSN), died on April 5. He was 68.
McCune was actively involved in the commercial real estate business for more than 40 years. He played a key role in the development and sale of nearly 4 million square feet of office properties in Denver. In 1994, McCune recognized self-storage as a solid investment opportunity and formed ASSSN to provide self-storage owners with an organized market for buying and selling properties. He felt self-storage represented a much better investment opportunity for real estate investors than was being perceived by the market, and his goal was to educate investors and industry professionals about the opportunity, according to Argus representatives.
“Mike had a unique understanding of real estate and particularly self-storage,” said Charles Ray Wilson, founder of Self Storage Data Services. “We shared ideas, but I always felt that I benefited the most.”
McCune was a fixture at self-storage conventions and frequently gave presentations on facility valuation, capitalization rates and other real estate issues, helping self-storage owners realize the potential of their investments. He watched ASSSN grow into one of the largest brokerage companies in the business, with more than 30 affiliate offices nationwide.
“Mike was widely regarded as one of the brightest and most well-respected professionals in the self-storage industry, and his keen insight and sense of humor will be greatly missed,” said ASSSN President Ben Vestal.
McCune’s legacy extends beyond the self-storage industry, as he was a tireless volunteer for a number of organizations that provided clean drinking water, education and economic development in underprivileged areas worldwide. He was a man who cared deeply about others and his absence will be felt by countless friends, colleagues and the many lives he touched.
“We have all lost a brilliant colleague and a dear friend. I am saddened by Mike’s passing and reminded to be more appreciative every day for my health, family and friends. Mike was a good man and we had a friendship that went back many years. I will miss him a lot,” Wilson said.