Bill Alter is pleased to announce the sale of Armored Mini Storage located at 13845 N. 7th Street, Phoenix.
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.