Two Arizona Self Storage Facilities Close for $6 Million

image_pdfimage_print

self_storageThe Alter Nunez Team of Rein & Grossoehme Commercial Real Estate in Phoenix has sold two self-storage facilities in Arizona, both closing on February 28th.

America One Storage, was recorded in Navajo County, Arizona. This property was built in phases starting in 1996 and finishing in 2006. It consists of 495 drive-up units, 77 open parking spaces and 4 retail suites comprising 4,000 square feet. The property is located at 650 Penrod Street in Show Low, Arizona. The property sold to the Ridel Family Trust from Bighorn, Montana. The seller was an LLC controlled by Art Bauer of Show Low. The sales price was $6 million ($12,000 per unit). The property was about 90% occupied at closing.

The other property was ABC Self Storage which was recorded in Yavapai County, Arizona. This property was also constructed in phases starting in 1992 and finishing in 2002. It consists of 115 drive-up units and 15 parking spaces. This property is located at 3390 N. State Route 89 in Chino Valley, Arizona. The property sold to an LLC controlled by Kurt Faust of Chino Valley. The seller was a family trust controlled by Corky and Sandy Behrle, also of Chino Valley. The sales price was $240,000 ($2,100 per unit). The property was about 90% occupied at closing.

Bill Alter and Denise Nunez represented the seller in the Navajo County transaction and both parties in the Yavapai County transaction. The Alter Nunez team specializes in storage facility sales and this represents their 124th and 125th successful closing.

Alter and Nunez should be contacted at (480) 214-9400.