Scottsdale-based 1784 Capital Holdings, LLC, has purchased five acres located at 4725 E. Dynamite Blvd. in Cave Creek. The developer of high-end self-storage facilities plans to create a state-of-the-art facility on the site.
“This area in the northern portion of Metro Phoenix is one of the most fast growing in the state,” says Shane Albers, chairman and CEO of 1784 Capital Holdings. “As residential and business growth expands in the area, we see an opportunity to provide much-needed, high quality storage facilities. Our properties provide unparalleled amenities, cleanliness and security.”
The property is situated at the southwest corner of the intersection of Tatum and Dynamite boulevards. The intersection also features two retail centers and is surrounded by a variety of schools, residential communities, churches and equestrian facilities.
1784 Capital Holdings, LLC, a Delaware LLC purchased the property from P&G Properties LLC, and Arizona LLC.
“This area of north Phoenix is experiencing a pent-up demand for high quality, climate-controlled storage space,” says Kelly McKone, executive vice president of real estate for 1784 Capital Holdings. “As more residents relocate to this part of the city, the need for more storage will only increase.”
Hawthorne Self-Storage will feature one level above ground and two below ground, totaling ±120,784 square feet of space. The Class A, climate-controlled development will include convenient ingress/egress, diamond polished floors, state-of-the-art security and a collection of tenant services. Completion of the project is planned for first quarter 2020.