Glendale, AZ -- The sale of Glendale Self Storage was announced on May 26, 2022. The property is located at 7048 N. 43rd Avenue in Glendale, Arizona. It consisted of 9 buildings totaling 54,081 square feet and 650 units, 160 of which were climate controlled. The site was 2.74 acres in size and the property was built in 1977.
The seller in the transaction was MR Investments, LLLP. A partnership consisting of three individual investors who had exchanged into this property.
The buyer is one of the larger non-public owners of self-storage properties in the country.
This 45-year-old property received 18 offers within the first 30 days of hitting the market and ultimately sold for more than list price and with a cap rate of below 5%.
Bill Alter represented the seller in the transaction. This was his 171st self-storage sale.
About Bill Alter: Mr. Alter is Managing Director of the Self-Storage Specialty Group at Rein & Grossoehme Commercial Real Estate. He is a founding member of the Arizona Self-Storage Association and currently serves on its Board of Directors. In 2008, he was recognized with AZSA’s Self-Storage Pioneer Award for his significant contributions to the association since its inception in 1996 and his continued dedication to the professionalism of the self-storage industry in Arizona.
For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com or visit www.RGCRE/author/BillA
Rein & Grossoehme specializes in the sale of investment properties and commercial leasing.