Phoenix, Ariz. – Quantum Property Advisors, a commercial real estate firm that services the needs of the self storage industry, announces the sale of a 3.52-acre parcel of land for development of an 80,000 square foot self storage facility that will feature both exterior drive up and air conditioned units. The property is located within the community of Tramonto in north Phoenix, Arizona. The buyer was WDP Partners, an Arizona based developer of self storage facilities. Norman Herd with Quantum Property Advisors brokered the transaction, representing both the buyer and seller.
The site was purchased for $1,700,000 from Brexton Development, a real estate development firm out of Columbus, Ohio. Brexton entitled the site to allow for self storage in what turned out to be a very contentious zoning case that lasted for the better part of two years. Neighborhood opposition was strong and well organized. In the end, Brexton was able to work with the citizenry to come up with a project that met the needs of the community.
The facility is adjacent to Tramonto Marketplace, a regional power center, located at the intersection of Interstate 17 and Carefree Highway. The center is a destination retail environment that includes, Home Depot, Fry’s Marketplace, Albertsons, Kohl’s, Bed Bath & Beyond, PetSmart and two upscale grocery stores. Norman Herd, Designated Broker for Quantum Property Advisors, stated, “The site is uniquely positioned to take advantage of the high traffic environment created by the regional power center and the immediate access to Interstate 17, which carries over 100,000 cars per day.”
About Quantum Property Advisors
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.