PHOENIX, ARIZONA – NAI Horizon Managing Director Denise Nunez and Associate Victoria Filice represented the seller in the $17.5 million investment sale of Envy Self-Storage & RV in Gilbert, Arizona.
The Nunez Self-Storage Group represented the seller, Arizona entity 202 Storage, LLC. The buyer was JLL Arizona Self Storage, LLC, also an Arizona entity.
The current asset totals 127,745 NRSF and 757 units. It includes a mix of standard drive-up units, climate-controlled units, covered parking spaces and uncovered parking spaces. The sale included an in-progress expansion of the RV parking, which will add 39 covered spaces and three uncovered spaces. The asset is at 18612 S. Lindsay Road in Gilbert.
“This was an off-market deal where the Nunez Self-Storage Group identified the property for a California 1031 Exchange buyer. The owners had not planned to sell. However, this showstopper facility commanded an above-market offer which presented the owners with a unique selling opportunity,” Nunez said.
Envy Self-Storage & RV is located at Lindsay and Germann roads in one of the Valley’s fast-growing municipalities. It features boat and RV storage and is located near major highways in the bustling Southeast Valley.
Property amenities include 24-hour security monitoring, covered loading and unloading, electronic gate access, a fully fenced and well-lit yard, and ground-level units.