Cushman & Wakefield Negotiates Sale on Behalf of Seller

PHOENIX, April 4, 2017 – Cushman & Wakefield negotiated the sale of three self-storage facilities for $8.6 million. The three Tempe, Ariz. properties, sold by Business Property Trust, included AA Bargain I & II Self-Storage Portfolio at 1700 E. Curry Road and 816 N. Scottsdale Road and Tempe Bargain Self-Storage at 1964 E. University Drive.

Cushman & Wakefield’s Executive Directors Paul Boyle and Rick Danis represented the buyers and the seller.

Tempe Choice Self-Storage of Woodland Hills, Calif. paid $4.1 million for the AA Bargain I & II Self-Storage Portfolio. Sitting on 4.44 acres, the two self-storage facilities have a total of 380 units and a combined 49,925 square feet. The properties were 90% occupied at time of sale.

KEMF Tempe Storage, LLC of Scottsdale, Ariz. paid $4.5 million for Tempe Bargain Self-Storage. The 62,982-square-foot self-storage facility has a total of 731 units and sits on 3.22 acres. The property was 82% occupied at the time of sale.

“Located near the heart of the major growth Tempe is experiencing, along the Tempe Town Lake/Rio Salado district, all three properties are well positioned to benefit from the abundant infill multi-family housing planned and/or underway. Self-Storage facilities continue to remain popular with both investors and developers in the Phoenix market, in particular sites with infill locations,” said Paul Boyle.

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.