By Mary Haney

SAN DIEGO (May 19, 2015) – Cushman & Wakefield today announced the sale of Tempe Warner Self Storage at 1835  E. Warner Rd. in Tempe, Az., for $6.7 million.

Greg Wells of Cushman & Wakefield, Director of the Self-Storage Industry Group represented the seller, Hibernia Tempe, LLC, and procured the buyer, StorQuest Self Storage

WarnerThe 52,200-square-foot self-storage building offers 100 percent drive-up access units and is located on a major commercial thoroughfare in Tempe. The property was a strategic addition to the existing StorQuest portfolio in Metro Phoenix.

“The self-storage investment market is incredibly active right now. An abundance of capital from multiple sources, outstanding operating fundamentals and a lack of new supply have all contributed to this level of activity,” said Wells.

This sale is the third closing in the past 30 days for the Cushman & Wakefield Self Storage Industry Group. The three transactions included 26 properties totaling approximately 1.85 million square feet spread across seven states with a combined transaction value in excess of $150 million.