Bill Alter is pleased to announce the sale of Armored Mini Storage located at 13845 N. 7th Street, Phoenix, AZ. The sale closed on September 8, 2016 for $7,930,000, which represents approximately $163 per square foot and a cap rate of about 5.2%. Armored Mini Storage is a 3-story, climate controlled facility constructed in 2000. It consists of about 49,000 square feet and 575 storage units. Occupancy at time of closing was about 90%. The seller in the transaction was a local self storage developer and the buyer was Advantage Storage of Dallas, Texas. This was Bill Alter’s 152nd 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.