The sale of Arizona Storage Inn on Phelps was recently recorded in Maricopa County, Arizona. The property was built in 2000 and consisted of 259 units, 94 of which were climate controlled, plus 7 RV spaces, all in approximately 38,000 square feet. The location of the property is 1120 W. Phelps Rd., in Phoenix, Arizona. The property sold to 1120 East Phelps Road, LLC, an entity controlled by an individual investor from Santa Monica, California. The seller was Bell Road & 12th Street Investors Limited Partnership, an entity controlled by a Phoenix developer. The sales price was $1,950,000 which equates to $51.00 per square foot, or $7530 per unit. The building was 75% occupied at closing.
Bill Alter and Denise Nunez handled the transaction on behalf of both parties. The Alter Nunez Team specializes in storage facility sales and this represents their 128th successful closing.
Founded in 1993 and celebrating our 20th anniversary, Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.
Alter and Nunez should be reached at the Rein & Grossoehme office at (480) 214-9400.