Commercial real estate firm Wentworth Storage Co. LLC (WSC) and development partner Crow Holdings have acquired 11.08 acres in Scottsdale, Ariz., on which they plan to build a two-story self storage facility. The Pima 101 project at 17492 N. 91st St. will comprise 120,000 square feet, according to a press release. Construction is scheduled to begin during the second quarter, with completion expected during early 2018.
The land was purchased from SWVP DC Ranch LLC for $4.35 million. It’s east of the Loop 101 freeway at 91st Street and Pima Road. “There is roughly a population of 140,000 within five miles of the site and limited storage options in the area,” said Dave King, WSC’s vice president of self storage. “The site will have visibility from the 101 freeway, which carries approximately 100,000 cars per day.”
WSC has been actively seeking self storage acquisition and development opportunities. In February, it acquired a 1.6-acre property in Phoenix on which it will build a 100,000-square-foot storage facility. The company has closed on more than $160 million in self storage projects in the last year. It’s evaluating or under contract on another 1 million square feet of self storage nationwide, according to the release.
Based in Phoenix, WSC was founded more than 40 years ago. The company has been involved in more than 7 million square feet of development and acquisition transactions, and has a current portfolio of 1.3 million net rentable square feet. It is the self storage division of commercial real estate firm Wentworth Property Co. LLC.