Baron Properties of Denver, Colorado recently purchased Continental Ranch Self Storage in Tucson for $7.15 million from LPG Associates of Rohnert Park, California. The facility is located at 5650 W. Coca Cola Place.
NAI Horizon Senior Vice President Denise Nunez represented the seller, and secured the buyer in the transaction. Baron Properties has engaged Extra Space Storage as a third party management company to operate the facility. Extra Space Storage is a Real Estate Investment Trust.
“The acquisition represents the first self storage facility in Arizona for Baron Properties,” Nunez said. “With very few self storage acquisition opportunities in Arizona, the asset drew national attention from numerous buyers and moved quickly to contract.”
Continental Ranch Self Storage totals 99,810 net rentable square feet and 736 units. It is located off of I-10 and Cortaro Farms Road, adjacent to the Arizona Pavilions shopping center.