Class A self storage facility recently sold in Phoenix

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.

 

 

 

 

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