After successfully executing an operating turnaround ahead of schedule and dramatically boosting the occupancy rate for its vehicle storage property in Gilbert, Arizona, Vertical Fields Capital, LLC. announced today the sale of the asset. The property, located at 105 East Baseline Road, currently operates under the A-Secured Vehicle Storage brand.
“We sold A-Secured Vehicle Storage now because we achieved our intended operational improvement of the property faster than originally projected,” said Vertical Fields Founder and Managing Member Frederick McCarthy. “We are pleased to have boosted the occupancy at this property by nearly 30% in just over two years since acquisition.”
Vertical Fields Capital, LLC. and Macritchie Storage LLC, through an affiliate, acquired the property in July 2015. The address now sees an occupancy rate over 96% due to their management.
The property is situated across 11.37 acres with over 167,000 net rentable square feet. Customers primarily use the 556 units to store RVs.
About Vertical Fields Capital, LLC.
Vertical Fields Capital, LLC., a Washington, D.C.-based real estate development and investment firm, is focused on acquiring, repositioning and operating self-storage facilities in dense and growing in-fill locations in the top MSAs of the United States. SHARE Facebook Twitter