Carefree Covered RV Storage, a division of Business Property Trust, has bought RV SuperStorage in Chandler, Ariz. The property includes 594 covered, enclosed and open-air parking spots, as well as 53 storage units. Cushman & Wakefield Executive Director Paul Boyle represented the buyer, while M&T Bank provided acquisition debt.
Located at 1575 S Nelson Drive on 23 acres, the property is one mile from Interstate 10, close to several retail options and roughly 18 miles from downtown Phoenix. The facility will undergo improvements of more than $4 million, which will include the addition of 450 covered parking stalls, security upgrades and a complete renovation of the office/welcome center. According to Barry Raber, president & chief executive officer of Business Property Trust, the property will become the largest covered RV storage property in Arizona.
At the beginning of October, BBG began offering valuation and assessment services for manufactured housing communities, as well as RV parks and campgrounds. The company selected Erik Hanson to establish and grow the newly formed practice group.