|
|
11/13/20
|
A joint venture between Barker Pacific Group (BPG) and Artemis Real Estate Partners (Artemis) has acquired its first self-storage property, Life Storage, in Phoenix, AZ. The asset, sold by Hawkins Company Commercial Developers, traded for $14.25 mil.
The newly built, climate-controlled, Class A facility contains 94.5k sf and features 935 storage units. The project is located at 3325 N. 16th St, in Midtown Phoenix, two blocks west of Route 51 and four miles northeast of Downtown Phoenix. It has been open since May 2019 and is currently 70% occupied.
According to Jae Ho, Partner at BPG, the company was attracted to the property’s location, high quality construction, tenant amenities, and the activity of move-ins during lease-up. This is the 13th self-storage facility jointly acquired by BPG and Artemis.
Devin Beasley, Mike Mele and Luke Elliott of Cushman & Wakefield’s Self-Storage Advisory Group represented the seller in the transaction.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
