By Evelina Croitoru<\/p>\n
Business Property Trust sold three self-storage facilities in Tempe, Ariz., for the combined purchase price of $8.6 million. Executive directors Paul Boyle and Rick Danis of Cushman & Wakefield represented the seller and the two different buyers.<\/p>\n
Tempe Choice Self-Storage acquired the two assets in the AA Bargain I & II portfolio for $4.1 million. Located at 1700 E.\u00a0Curry Road\u00a0and 816 N. Scottsdale Road, the two facilities comprise\u00a0380 units totaling 49,925 square feet. The properties offer drive-up storage units, close-in outdoor RV, boat or trailer storage, as well as container storage units. Amenities include\u00a0surveillance cameras and upgraded lighting, automated gate access and on-site management. At the time of the deal, the properties had a\u00a090 percent occupancy.<\/p>\n
KEMF Tempe Storage LLC purchased Tempe Bargain Self-Storage for $4.5 million. Located at 1964 E. University Drive, the facility occupies a 3.2-acre lot and features 731 units. Each unit offers move-in resources, storage supplies, as well as 24\/7 security. At the time of the deal, the property was 82 percent occupied.<\/p>\n
\u201cLocated near the heart of the major growth Tempe is experiencing, along the Tempe Town Lake\/Rio Salado district, all three properties are well-positioned to benefit from the abundant infill multifamily housing planned and\/or underway. Self-Storage facilities continue to remain popular with both investors and developers in the Phoenix market, in particular sites with infill locations<\/em>,\u201d Boyle\u00a0said in a prepared statement.<\/p>\n Images courtesy of Bargain Storage<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" The facilities, totaling 1,111 units, traded for the combined purchase price of $8.6 million. All assets are well located within the Tempe Town Lake\/Rio Salado district.<\/p>\n","protected":false},"author":1055,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,1601,15],"tags":[34909,34908,34910],"class_list":["post-1004172237","post","type-post","status-publish","format-standard","hentry","category-deals","category-latest","category-phoenix","category-west","tag-business-property-trust","tag-cushman-wakefeld","tag-tempe-choice-self-storage"],"acf":[],"yoast_head":"\n