PHOENIX, ARIZ. – The Nunez Self-Storage Group represented the seller in the $25.5 million disposition of a self-storage and RV asset in Chandler, Arizona.
NAI Horizon Executive Managing Director Denise Nunez and First Vice President Victoria Filice, CCIM, represented the seller, Vault at Riggs Road LLC, in the sale of Vault Storage and RV, 12220 E. Riggs Road in Chandler.
The buyer was a nationally branded owner/operator with several locations throughout the Metro Phoenix market.
“A great value add story for the seller who purchased the property in 2020, gave it an update and built out existing concrete pads for additional storage and covered RV,” Nunez said. “The sales price reflected current market conditions and generated multiple offers.”
The property was sold with Phase II recently completed. The entire site offers a mix of drive-up, climate controlled, covered RV and uncovered parking for a total of 702 units with approximately 150,260 NRSF.
The Nunez Self-Storage Group closed more than $140 million in transactions in 2021.