Bill Alter closed the sale of a three-property portfolio on November 6, 2014. Two of the properties were located in Mesa, Arizona and one in Glendale, Arizona. All three had been operated under the name of A Self Storage. The properties sold for a total of $5,476,000 and consisted of 177,185 square feet and 1,695 units. All three had occupancy rates of less than 50% and sold for a combined cap rate of 2.6% and a cost per foot of just under $31.00. The seller was a group of investors from northern California and the new owner is from Portland, Oregon. These sales bring the total number of successful closings for Bill to 138.
For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com. You may also visit www.AZSelfStorageBroker.com.
Specializing in commercial real estate for over 20 years, Rein & Grossoehme is consistently recognized as a market leader in Arizona and provides services in retail leasing and sales, office leasing and sales, industrial leasing and sales, land and pads, self storage properties, multi-family properties, single tenant triple net leased properties, and tenant representation.