|
|
1/26/17
|
In a recent self-storage sales comp, Extra Space Storage purchased the 783-unit StorQuest Self Storage facility in Chandler, AZ for $9.5 mil. The property is located at 2150 N. Arizona Ave, west of McQueen Rd and south of Hwy 60.
Built in 1989 as a Target, the property was converted to a self-storage facility in May 2015 with new, climate-controlled units, including 20 drive-up units. Encompassing 8.74 acres, totaling 85.4k sf of space, the facility features well-lit, spacious units with high ceilings and a state-of-the-art security system. The property was 62% leased at the time of sale.
The buyer plans to operate the newly acquired facility under the Extra Space Storage name. As the second largest storage unit operator in the U.S., Extra Space Storage owns and operates over 1,400 self-storage properties across 35 states.
Paul Boyle, Rick Danis and Greg Wells with Cushman & Wakefield represented both the buyer and the seller, Global Chandler 2150 LLC of Chandler, in the transaction.
“Since opening for business in May of 2015, the property has generated strong leasing activity in a short period of time. Excellent demographics surround the asset and over 5,000 businesses are within a three-mile radius. Newer, modern features include an on-site business center which continues to become popular with new and/or refurbished facilities,” said Boyle.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
