The sale of Arrowhead Mini Storage, a 58,000 square foot, 499 unit, self storage facility built in 1997 was recently recorded. The location of the property is 19315 N. 83rd Avenue in Peoria, Arizona. The property sold to an entity created by Orsett Properties from Phoenix. The seller was Arrowhead Mini-Storage, LLC, who were the original builder of the property. The sales price was $4,425,000 which equates to $76 per square foot. The building was about 80% occupied at closing.
Bill Alter of Rein & Grossoehme specializes in the sale of storage properties and they represented both parties in the transaction, which was his 121st successful sale. For more information regarding the above listed transaction, contact Bill Alter at 602-315-0771 or Bill@RGcre.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.