The sale of Arrowhead Mini Storage, a 58,000 square foot, 499 unit, self storage facility built in 1997 was recently recorded. The location of the property is 19315 N. 83rd Avenue in Peoria, Arizona. The property sold to an entity created by Orsett Properties of Phoenix (Michael Freret, CEO). The seller was Arrowhead Mini-Storage, LLC (Ronald Von Aschersleben, member) who were the original builder of the property. The sales price was $4,425,000 which equates to $76 per square-foot. The facility was about 80% occupied at closing.
Arrowhead Mini Storage has served the Northwest Valley cities of Peoria, Glendale, Phoenix, Sun City, Sun City West, Youngtown, and areas beyond from this location for over 14 years. The sellers had over 35 years experience in the mini storage industry. Locally owned and operated they were also an original member of the AZSA-Arizona Self Storage Association and a supporter of Peoria Firefighter Charities.
The mini storage is open 7 days a week, and offers climatized as well as standard units, electronic security, resident managers, all ground floor units, and easy access. Unit sizes range from 5×5 up to 10×30 for both commercial and residential clients.
Bill Alter and Denise Nunez of Rein & Grossoehme specialize in the sale of storage properties and they represented both parties in the transaction, which was their 121st successful sale.
Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.
Bill Alter can be reached at (602) 315-0771 and Denise Nunez at (602) 697-8868, both are with Rein & Grossoehme of Phoenix.