TUCSON, ARIZONA – An affiliate of Utah Real Estate Development, AKAPartners (Michael S Anderson, CCIM) purchased 32.07 acres of land, located at the northwest corner of Interstate 10 and Wilmot Rd. in Tucson, from JS & J Service, Inc. for $1.8 million ($56,000 per acre / $1.30 PSF).
The property was purchased for development of a self-storage facility on 10 acres. Plans for the remaining 22 acres has yet to be determined.
AKA has begun branding for “GreenFill” for a chain of self-storage and RV/Boat storage properties to take advantage of the “Green” tax-advantaged technologies. Electric and hybrid vehicles, which currently account for 2% of auto sales, are expected to grow to 30% of sales by 2025*. Owners of these vehicles who are typically environmentally-focused will now be able to fill their batteries with “green” sourced power generated by solar arrays installed at properties near high traffic locations. These arrays will also shade tenant RVs providing an additional source of value-add revenue to increase NOI. AKA Partners is the Manager for all GreenFill Storage properties.
Dave Hammack and Ron Zimmerman, Principals and Retail/ Industrial Specialists with Cushman & Wakefield | PICOR, represented the seller in this transaction. Juan Teran, CCIM, with Realty Executives Tucson Elite, represented the buyer.
For more information Hammack and Zimmerman can be reached at 520.748.7100 and Teran should be contacted at 520.977.5905.
To learn more, see RED Comp #7305.