Bill Alter is pleased to announce the sale of Allstate Self Storage located at 4110 E. Bell Road in Phoenix, AZ. The sale closed on February 11, 2016 for $6,700,000, which represents approximately $88 per square foot and a cap rate of about 5.8%. The property was constructed in 1999 and consisted of about 68,250 square feet and 785 storage units plus a 7,600 square foot, 2-tenant retail building. Occupancy at time of closing was about 90%. The property was purchased by U-Haul International. This was Bill Alter’s 145th self-storage sale.
For more information 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.