Glendale Avenue Self-Storage, LLC (Wentworth Storage Company, LLC) has purchased 1.63-acres west of the northwest corner of 19th Avenue and Glendale Avenue for $770,000.00. The Arizona-based development and acquisition company plans to develop a 100,000-square-foot self-storage facility on the property that is zoned C3. The seller was NRDP AZ III, LLC (Rick Sodja).
“This property offered us an opportunity to acquire a great infill site,” according to Dave King, Vice President of Self Storage for WSC. It is located less than one mile from I-17 and has a population of over 425,500 within five miles of the intersection. Wentworth owns the site across the street from the 1.63-acre property and believes that there will be a great synergy between the two sites.
Wentworth Storage Company plans to start construction on the indoor, climate controlled self-storage facility this year with completion by early 2018.
Wentworth is actively looking for additional self-storage opportunities, including purchasing existing facilities, reuse/conversion properties and ground-up development sites in primary and secondary markets throughout the U.S. The company closed on over $160 million of self-storage projects in the last year and is either under contract or evaluating another 1 million square feet of projects nationwide. Currently, the portfolio is 1.3 million net rentable square feet.