PHOENIX, ARIZONA -- NAI Horizon Senior Vice President Denise Nuñez represented the buyer in a $580,000 ($4.79 PSF) land sale for the construction of a 104,000-square-foot self-storage facility at Desert Foothills Parkway and Marketplace Way in Ahwatukee.
Nuñez, with NAI Horizon’s National Self Storage Investment Group, represented Arizona-based 1784 Capital Holdings LLC.
“We chose this site for its rare opportunity to develop a state-of-the art self-storage facility in this growing area with significant village planning committee and municipal support,” said Shane Albers, Chairman and CEO of 1784 Capital Holdings LLC.
1784 Capital Holdings LLC has allocated an additional $250 million for the development of Class A, institutional quality self-storage as it continues to expand its national portfolio with a primary focus on Arizona, California and greater Washington, D.C.
“Ahwatukee is a highly desirable lifestyle market with above-average income levels,” Nuñez said. “This location will provide a much-needed quality, all climate-controlled facility that will aesthetically blend in with the community.”
In September, the Ahwatukee Foothills Village Planning Committee voted 9-1 to recommend a city planning commission approval of a self-storage facility to be built on the 2.78-acre piece of land. The facility will include three floors (one of them below ground). The land has been vacant for the past 32 years.
The seller, First Bank of Layton in Layton, Utah, was represented by Doug Fielding of Marcus & Millichap.