PHOENIX, ARIZ. (May 25, 2022) – The Nunez Self-Storage Group represented the seller in the disposition of an 84,585 SF self-storage asset in Phoenix.
NAI Horizon Executive Managing Director Denise Nunez and First Vice President Victoria Filice, CCIM, represented the seller, Structured REA – Glendale Storage, LLC, in the sale of Extra Space Storage (managed), 2718 W. Glendale Ave. The buyer was a New York, New York-based owner with existing self-storage operations in the market.
“This was a Class A new-build property which opened in February of 2021 and was significantly surpassing lease-up projections,” Nunez said. “The owners had received off-market offers.
“However, they were motivated to sell when they saw what deals were selling for under current market conditions. There were many potential buyers for this institutional quality product and an excellent addition to the buyer’s existing portfolio in the Phoenix market,” Nunez said.
The property was a single building, all enclosed climate-controlled which housed 886 units.
The Nunez Self-Storage Group closed more than $140 million in transactions in 2021.
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 more than 300 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 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions and a gross revenue of $1.5 billion.
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.