Skip to content
  • Home
  • Sales
    • 1st Quarter Sales
    • 2nd Quarter Sales
    • 3rd Quarter Sales
    • 4th Quarter Sales
  • Leases
  • Advertise
  • Subscribe
  • Listings
  • Log In
Menu
  • Home
  • Sales
    • 1st Quarter Sales
    • 2nd Quarter Sales
    • 3rd Quarter Sales
    • 4th Quarter Sales
  • Leases
  • Advertise
  • Subscribe
  • Listings
  • Log In

Cushman & Wakefield Arranges $39.5M Sale on Behalf of WPD and Titan Development

  • Home
  • News
  • Cushman & Wakefield Arranges $39.5M Sale on Behalf of WPD and Titan Development
News
/
February 23, 2021
/
RED News Service
image_pdfimage_print

Three Self-Storage Properties Total 2,173 Units and 16 Parking Spaces

GILBERT and PHOENIX, Arizona– Cushman & Wakefield announced today that the commercial real estate services firm has arranged the sale of three self-storage properties located in Gilbert and Phoenix, Arizona. The final sale price was $39.5 million ($18,178 per unit).

Devin Beasley, Luke Elliott and Mike Mele of Cushman & Wakefield’s Self-Storage Advisory Group represented the sellers, WDP Partners and Titan Development/TDREF I, in the transaction. Barker Pacific Group acquired the properties.

“Positive metrics in the self-storage market are increasing demand for this asset type,” said Brian Patterson, Vice President of Development for Titan Development. “Through this pandemic we’ve seen a number of our properties accelerate into stabilization, making them a solid acquisition for groups looking to expand their existing self-storage portfolios.”

The Class A self-storage portfolio totals 2,090 climate-controlled units, 83 drive-up units and 16 parking spaces. The properties are located at 670 Gilbert Road, 1965 E. Ray Road in Gilbert, and 34995 N. Valley Parkway in Phoenix.

“The fundamentals of self-storage have remained resilient through the uncertainty of COVID-19,” said Todd Chester of WDP Partners. “We expect that stabilized; cash-flowing self-storage assets will continue to attract buyers heading into the next few years.”

“The properties were in various stages of strong lease-up as they were built in 2019 and 2020,” Beasley said. “The purchase allowed the buyer to expand its competitive footprint in the market, having purchased a Life Storage-managed facility on 16th Street in Phoenix a few months earlier.”

Share Now!

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit
Share on whatsapp
Share on tumblr
Share on odnoklassniki

Recent Posts

  • Dunn-Edwards Buys Built-to-Suit at The Landing for $3.63 Million
  • Phoenix Single-Tenant NNN Coffee Shop Sells for $707/SF After Garnering Multiple Offers
  • Lennar adds more lots at La Estancia MPC
  • CBRE Completes Sale of Industrial Property near Phoenix for $35 Million
  • The City of Avondale Breaks Ground on Fifth Fire Station

Archives

Newsletter

Copyright © 2021 Real Estate Daily News | Powered by Astra WordPress Theme

  • 1st Quarter Sales
  • 2020 SoAZ Forecast Competition
  • 2nd Quarter Sales
  • 3rd Quarter Sales
  • 4th Quarter Sales
  • 5905 East Speedway Blvd, Tucson, AZ
  • Account
  • Advertising
  • Annual Site Access Conditions
  • Archives
  • Executives Prefer CCIM
  • HELP WANTED
  • Home
  • Ina Capital Development
  • Link Page
  • Login
  • MARKET LEADERS – CCIM DESIGNEES
  • Newsletter Subscription
  • Pima County Real Estate Research Council
  • Privacy Policy
  • RED Comps Terms and Conditions
  • Red Leases
  • Registration-Login
  • Sample RED Comps
  • Search Comps
  • Subscription
  • Terms of Service
  • Test
  • Test Comp Search
  • Thank You
  • Thank You For Subscribing
  • www.realestatedaily-news.com Privacy Policy
  • About Real Estate Daily News
Scroll to Top