Stable Economy Drives Another Storage Transaction in Phoenix SMA
Harrison Street / Advantage Storage Joint Venture closes on another acquisition
RICHARDSON, Texas, Dec. 20, 2018 /PRNewswire-PRWeb/ -- Advantage Storage today announced the acquisition of another storage facility in the Phoenix SMA. A joint venture owned by Harrison Street Real Estate Capital and Advantage Storage acquired the Surprise, Arizona facility with assistance from Paul Boyle and team at Cushman & Wakefield.
"Population density, migration and strong household incomes are keys to a successful storage property," said Deadman. "The fact that the Phoenix market has seen favorable growth in all three of these areas made this investment extremely compelling."
Constructed in 2003, this RV/Boat storage property totals approximately 201,476 square feet and more than 420 units. The site encompasses 10.41 acres and is gated and fully stabilized.
Features of the property include: institutional-quality construction, 24-hour video surveillance, secure fencing with electronic access control, wide drive aisles and retail-oriented customer service offices.
Advantage Storage is a full-service storage investor with a platform that includes development, management and construction capabilities. The firm's in-depth storage market knowledge has given it the ability to grow its presence to 41 facilities currently in 3 states.
Contact: Davis Deadman
Phone: +1 972 679 7488
Email: Davis(at)advantagestorage.net
SOURCE Advantage Storage
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