BUSINESS

NAI Horizon negotiates $8.35M sale of self-storage facility, representing Apache Junction seller

Independent Newsmedia
Posted 8/11/20

NAI Horizon Senior Vice President Denise Nunez and associate Victoria Filice represented the Apache Junction seller in the $8.35 million investment sale of American Self Storage and Mail Center, …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor
BUSINESS

NAI Horizon negotiates $8.35M sale of self-storage facility, representing Apache Junction seller

Posted

NAI Horizon Senior Vice President Denise Nunez and associate Victoria Filice represented the Apache Junction seller in the $8.35 million investment sale of American Self Storage and Mail Center, 12220 E. Riggs Road in Chandler.

NAI Horizon represented the seller, Lawhead Family LLC of Apache Junction; and secured the buyer, 535 Wilmot Investors LLC of Phoenix, according to a release.

“The seller was specific that the property be quietly marketed. We sent the deal to 13 potential buyers, which generated five solid offers for a top negotiated price at a 4.8 cap rate on in-place income,” Ms. Nunez said in the release. “The seller had original plans to develop out five concrete pads for additional climate-controlled and drive units. However, the seller never finished the project, which was built in 1999. The buyer, an Arizona LLC, will develop out the site in a market known for its difficulty for approving of self-storage.”

American Self Storage and Mail Center totals 59,239 net rentable square feet and 652 units. It features a mix of standard drive-up and climate-controlled units along with RV parking and six commercial retail store tenants. It is on Riggs Road between McQueen and Cooper roads, the release states.

Ms. Nunez specializes in self-storage, offering local expertise in Arizona and national representation working with NAI offices throughout the U.S.

For more information, go to naihorizon.com.

Comments