Cushman & Wakefield announced today that the real estate services firm has arranged the sale of a 935-unit self-storage property located in Phoenix, Arizona.
Devin Beasley, Mike Mele and Luke Elliott of Cushman & Wakefield’s Self-Storage Advisory Group represented the seller, Hawkins Company Commercial Developers, in the transaction. Barker Pacific Group acquired the property.
“It was great working with Cushman & Wakefield’s Self-Storage’s Advisory Group,” said Mark Hawkins of Hawkins Company Commercial Developers. “The team brought a number of buyers to the table and worked diligently through the process, and therefore was able to close the sale quickly.”
Located at 3325 N. 16th Street, the 94,450-square-foot, Class A property includes 29 non-climate-controlled units and 906 climate-controlled units ranging from 25 square feet to 300 square feet. The property is equipped with video surveillance, keypad entry and electronic gating and offers sizable loading bays and elevator access for consumer convenience.
“The Phoenix MSA has proven once again that it is a highly sought-after market in regard to self-storage lease-ups across the board,” added Beasley. “Most new builds have remained relatively constant, which has allowed buyers the ability to acknowledge the continuous growth locally, while nationally, we are still seeing the ebbs and flow in both rental rates and lease-up activity,” Beasley said.