Bill Alter is pleased to announce the sale of Storage Max Self Storage located at 11900 W.N. 91st Ave., Peoria, Arizona. The sale closed on June 7, 2016 for $3,500,000, which represents approximately $52 per square foot and a cap rate of about 5.35%. The property was constructed in 1986 and consisted of about 69,825 square feet and 527 storage units plus 105 outdoor parking spaces for boats and RV’s. Occupancy at time of closing was about 50%. The seller in the transaction was an investor the San Francisco Bay area and the buyer was from Portland, Oregon. This was Bill Alter’s 151st self storage sale.
For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com. You may also visit www.RGcre.com/author/BillA
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.