NAI Horizon Senior Vice President Denise Nunez represented the seller and the buyer in negotiating the $10.755 million sale of a 638-unit self storage facility at 24901 W. Yuma Rd., in Buckeye, Arizona.
Storage America DBA Store-All America RV and Self-Storage sold the 107,130 SF net-rentable facility, Store-All America RV and Self Storage, to a California buyer.
“For the right deals, the market continues to deliver high prices. The owners capitalized on the low inventory, high demand environment for self storage properties, to sell below current market cap rates for a $100.39 per square foot price,” Nunez said.
“The buyer is an established self storage owner and operator out of California who completed the sale with a 1031 Exchange. This sale represents the first for the buyer in the Arizona market,” Nunez said.
Store-All America RV and Self Storage sits on 9.11 acres in Buckeye. It comprises 638 drive-up units plus 240 outdoor RV parking spaces. The sale also included a U-Haul moving truck business.