PHOENIX, ARIZONA (August 11, 2020) – NAI Horizon Senior Vice President Denise Nunez and Associate Victoria Filice represented the seller in the $8.35 million investment sale of American Self Storage & Mail Center in Chandler, Arizona.
NAI Horizon represented the seller, Lawhead Family LLC of Apache Junction, Arizona; and secured the buyer, 535 Wilmot Investors, LLC of Phoenix. The asset is located at 12220 E. Riggs Road in Chandler.
“The seller was specific that the property be quietly marketed. We sent the deal to 13 potential buyers which generated five solid offers for a top negotiated price at a 4.8 cap rate on in-place income,” Nunez said. “The seller had original plans to develop out five concrete pads for additional climate-controlled and drive units. However, the seller never finished the project, which was built in 1999. The buyer, an Arizona LLC, will develop out the site in a market known for its difficulty for approving of self-storage.”
American Self Storage & Mail Center totals 59,239 NRSF and 652 units. It features a mix of standard drive-up and climate-controlled units plus RV parking plus six commercial retail store tenants. It is located on Riggs Road between McQueen and Cooper roads.
Nunez specializes in self-storage, offering localized expertise in Arizona and national representation working with NAI offices throughout the U.S.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to 375+ offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide.
NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more visit: www.naiglobal.com.