PHOENIX, ARIZONA – Hines, the international real estate firm, announced today it is constructing a new storage facility in Tempe and plans to break ground on another in Litchfield Park, advancing its strategy of offering Class A storage facilities in high-end urban and suburban communities as a residential amenity.
“Class A self-storage facilities are desirable amenities for upscale residential areas,” said Chris Anderson, senior managing director and Arizona leader for Hines. “Building self-storage projects continues our desire to diversify our portfolio.”
Luis Castellanos, director of Hines’ Self-Storage Platform, added, “These facilities provide a convenient, clean, and secure alternative for people safe-guarding their belongings outside of the home. They also help accommodate small businesses that need flexible storage space near their customers.”
The Tempe facility, located on four acres near the northeast corner of Priest Drive and Warner Road, will be 83,110-square-feet with 640-units. The site will have exclusive covered RV parking to secure owners’ high-end vehicles for extended periods of time. Double AA Builders of Scottsdale is expected to finish the facility’s construction early this fall.
Hines plans to start construction on the 96,000-square-foot Litchfield Park facility next month. It is part of a mixed-use center under development on the southeast corner of Camelback Road and Dysart Road. The facility, located on 4.2 acres, will have 673 units. Construction is expected to finish at the end of 2019.
CubeSmart, a national operator based in Pennsylvania, will manage both the Litchfield Park and Tempe sites’ day-to-day operations. RKAA architects of Phoenix designed the self-storage facilities in Arizona which are air-conditioned and plan to feature amenities like conference rooms, security systems enhanced by artificial intelligence, a fully-automated rental process and personalized access.
Val Vista Storage, Hines’ first self-storage project in Arizona, opened in February 2019 on the northwest corner of Val Vista Drive and Queen Creek Road in Gilbert. The 75,000-square-foot facility has 510-units.
Hines also has multiple self-storage facilities under development in Texas with several others planned throughout Southwestern U.S.
In Arizona, Hines is continuing to diversify its portfolio. In September 2017, Hines announced its first residential project in the state. Called Asteria Highlands, the new gated neighborhood in North Scottsdale will include 40 acres and 31 single-family lots. Hines recently opened the Offices at Chandler Viridian, the capstone to Chandler Viridian, a vibrant 25-acre mixed-use development. It includes the Offices at Chandler Viridian, a Cambria hotel & suites, Broadstone Fashion Center luxury apartments, sophisticated retail offerings at Chandler Viridian PRIMEGATE and a pedestrian promenade to the Chandler Fashion Center mall. Also in the Phoenix market, Hines owns Kierland One, a Class A 175,441-square-foot office building in the North Scottsdale Airpark submarket, and Goodyear Crossing II, a Class A industrial warehouse in Goodyear. Hines provides property management services for Renaissance Square, a two-building, high-rise office complex in downtown Phoenix.