Phoenix, Ariz. – Quantum Property Advisors, a commercial real estate firm that services the needs of the self storage industry, announces the sale of a 5.43-acre parcel of land for development of a 62,380 square foot net rentable area self storage facility. The property is located at 25710 S. Arizona Avenue in Chandler, Arizona. The buyer was California based, Guardian Storage Centers, LLC, who has been actively acquiring entitled self storage sites throughout Maricopa County.
The site was purchased for $1,064,417 from LAACO, Ltd., parent company of Storage West, which owns 17 facilities in the Phoenix metro area. It is approved for construction of a 576-unit facility that will include both air conditioned, non-air conditioned and drive-up units, as well as 75-RV spaces.
“Recently there have been multiple facilities constructed within this trade area. But, most of these are experiencing strong lease-up and positive rental rate growth, indicating the potential for another competitor to come in.”, said Norman Herd, Designated Broker for Quantum Property Advisors, who represented the buyer in this transaction.
Quantum Property Advisors is a real estate services firm that specializes in meeting the needs of the self storage industry. The firm is based in Phoenix, with a satellite office in Seattle. Its services include, brokerage, financial analytics and market related consulting. Norman Herd, Jr., and Quantum Property Advisors can be reached at (602) 562-5500.