Just Sold a two-property self storage portfolio

Bill Alter recently closed on the sale of a two-property self storage portfolio recently.  The properties were located at 1735 W. Apache Trail and 1678 W. Superstition Blvd., both in Apache Junction, Arizona.  The properties consisted of 94,000 net rentable square feet of space, which included 567 storage units, 20 commercial/retail suites and 41 covered RV parking spaces.  Overall occupancy at the time of sale was approximately 60%.  The combined sales price was $2,450,000, which equates to a cap rate of 7.3 and cost per foot of $26.  The seller was an individual investor from La Quinta, California and the buyer was an individual from Santa Barbara, California.  These sales bring the total number of successful closings for Bill to 140.

For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com.  You may also visit www.AZSelfStorageBroker.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.

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