SCOTTSDALE, Arizona – Vestis Group, a commercial brokerage, investment and development firm, is pleased to announce the sale of 1.3 Acres of C-3 Zoned, self-storage approved land, located at 22111 North Scottsdale Road in North Scottsdale, for $3,500,000 or $61 per square foot. The Phoenix based Vestis Group commercial brokerage team of Natan Jacobs and Matt Morrell negotiated the transaction on behalf of the buyer, 7200 Monogram Self Storage Partners LLC, from Scottsdale, Arizona, and the seller, North Scottsdale Self Storage LLC, from Scottsdale, Arizona.
“This transaction required land development application and persistent brokerage work to complete,” says Matt Morrell, President of Retail Investments at Vestis Group and the lead broker for this transaction, “We are excited and congratulate everyone involved on another successfully closed deal. The state-of-art self storage development will include approximately 97,000-square-feet of climate controlled storage space, across multi-levels, including 2 basement levels. We are actively seeking additional land development opportunities across Metro Phoenix.”
The subject property, located at the northeast corner Scottsdale Road and Monogram Road, features direct access to the Loop 101 Freeway, within 1.5 miles, and is situated across Miller Road from the mixed-use development, “Silverstone,” formerly Rawhide. Silverstone will ultimately consist of 976 homes, an independent and assisted living facility, Vi at Silverstone, as well as office and retail space. Nearby resort/hotels include: The Boulders, Fairmont Scottsdale Princess, JW Marriott Phoenix Desert Ridge Resort & Spa, The Westin Kierland Resort & Spa Phoenix-Scottsdale, and Four Seasons Resort Scottsdale At Troon North.