Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of an 817-unit self-storage facility in the Mountain West region of the U.S. Dana Summers of Northmarq represented the seller, a Mesa, Arizona-based developer. The property was sold to Public Storage, a publicly traded REIT, for an undisclosed price.
“The execution by both seller and buyer was flawless, coupled with a relatively quick closing,” said Summers, Senior Director in Northmarq’s Tempe, Arizona office. “The acquisition was a perfect match between buyer and seller, and we were very pleased to broker such a seamless execution between the two parties.”
The property was constructed in 2008 and is situated on 5.62 acres. The facility is located in a growing area, with dense residential population and strong projections for future growth.