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May 24, 2018
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Trio of AZ Self-Storage Properties Fetch $8.6 Mil


Business Property Trust has sold three self-storage facilities in Tempe, AZ for $8.6 mil. The three properties include: AA Bargain I & II Self-Storage Portfolio at 1700 E. Curry Road and 816 N. Scottsdale Road, and Tempe Bargain Self-Storage at 1964 E. University Drive.

Tempe Choice Self-Storage of Woodland Hills, CA paid $4.1 mil for the AA Bargain I & II Self-Storage Portfolio. Sitting on 4.44 acres, the two self-storage facilities have a total of 380 units and a combined 49.9k sf. The properties were 90% occupied at time of sale.

KEMF Tempe Storage LLC of Scottsdale, AZ paid $4.5 mil for Tempe Bargain Self-Storage. The 63k sf self-storage facility has a total of 731 units and sits on 3.22 acres. The property was 82% occupied at the time of sale.

Cushman & Wakefield’s Paul Boyle and Rick Danis represented the buyers and the seller in these transactions.

“Located near the heart of the major growth Tempe is experiencing, along the Tempe Town Lake/Rio Salado district, all three properties are well positioned to benefit from the abundant infill multi-family housing planned and/or underway. Self-Storage facilities continue to remain popular with both investors and developers in the Phoenix market, in particular sites with infill locations,” said Boyle.

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