Cushman & Wakefield announced the sale of Tempe Warner Self Storage at 1835 E. Warner Rd. in Tempe for $6.7M. 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
The 52,200 SF self-storage building offers 100 percent drive-up access units and is located on a major commercial thoroughfare in Tempe.
“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 1,850,000 SF spread across seven states with a combined transaction value in excess of $150M.