TUCSON, ARIZONA — A Canadian investor, Tangerine Storage, LP of Calgary, Alberta (Will Matthews, manager) purchased the 453-space Park ‘n Shade RV and Boat Storage facility at 7935 West Tangerine Road in Marana for $4.575 million ($11,000 per space). The property was nearly 100% occupied at time of sale.
The seller was Park ‘n Shade RV Storage of Marana (Russ Pearson and Rick Bailey, members).
The investor owns other self-storage facilities and has rebranded this facility PremieRVehicle. The venue is near I-10 in Marana, AZ, making it easily accessible and convenient for residents of Marana, Oro Valley, and Tucson. Located near Breakers Water Park and down the road from Trico Electric Cooperative, provides secure, quality parking option for boats and vehicles.
Believed to be the largest RV storage facility in the area, the facility was built for this purpose in 2004 on 9-acres, with each parking space option covered to give extra protection from the heat of the sun. The buyer plans to expand the facility by an additional 25 spaces in order to make room for 478 parking spaces.
Additionally, the five options of spaces are all built large enough to avoid accidents while parking, the aisles are 40 feet wide, to make pulling into and out of parking spots easy. The facility is also gated with a resident manager living on the property, to assure the safety of vehicles.
Cox Armored Mini Storage Management Company of Phoenix has assumed management of the facility and retained the prior resident manager who worked for seller.
Jeff Gorden, CCIM, of Eagle Commercial Realty Services, AMO® in Phoenix, an Argus Self Storage Sales Network Affiliate, specializes in self-storage and RV storage properties and net lease investment sales. Gorden represented the buyer in this transaction and the seller was self-represented.
For more information, Gorden should be reached at 602.952.1282.
To learn more, see RED Comp #4273.