Cushman & Wakefield has brokered the sale of a seven-property self-storage portfolio in Arizona and Minnesota.
The primarily Southwest and Midwest portfolio totals 606,214 net rentable storage square feet, 30,730 square feet of covered RV/Boat parking, and 20,376 square feet of uncovered parking, totaling 5,890 units.
The portfolio was acquired by one of the largest self-storage companies in the world. The seller consisted of various partnerships owned and operated by Bill Levine and Andrew Cohn.
Executive Director Paul Boyle of Cushman & Wakefield’s Capital Markets Self Storage in Phoenix represented both parties in the transaction.
The portfolio consists of six properties spanning four cities in Arizona and one property in Minnesota. The 5,890 units includes climate-controlled and non-climate-controlled units and RV/Boat spaces. The portfolio was about 92% leased at the time of sale.
The property addresses included:
3443 E Indian School, Phoenix (1,069 units)
4602 E Thunderbird, Phoenix (845 units)
4747 N 16th St, Phoenix (869 units)
868 E Hunt Highway, San Tan Valley, Arizona (462 units)
1019 E Broadway Rd, Tempe, Arizona (724 units)
31434 N Cave Creek Rd, Cave Creek, Arizona (629 units)
12001 1-35W S, Burnsville, Minnesota (1,292 units)