PHOENIX, ARIZONA (May 7, 2018) – NAI Horizon Senior Vice President Denise Nunez represented the seller and the buyer in negotiating the $10.755 million sale of a 638-unit self-storage facility at 24901 W. Yuma Rd., in Buckeye, Arizona.
Storage America DBA Store-All America RV and Self-Storage sold the 107,130 SF net-rentable facility, Store-All America RV and Self Storage, to a California buyer.
“For the right deals, the market continues to deliver high prices. The owners capitalized on the low inventory, high demand environment for self-storage properties, to sell below current market cap rates for a $100.39 per square foot price,” Nunez said.
“The buyer is an established self-storage owner and operator out of California who completed the sale with a 1031 Exchange. This sale represents the first for the buyer in the Arizona market,” Nunez said.
Store-All America RV and Self Storage sits on 9.11 acres in Buckeye. It comprises 638 drive-up units plus 240 outdoor RV parking spaces. The sale also included a U-Haul moving truck business.