A-Secured Vehicle Storage – Gilbert, Arizona

Our client was a retiring  developer whom we had worked with many times before during his 40-year career developing office, storage, and other types of real estate in Phoenix. The property was an 11 acre boat/RV/vehicle storage that featured 10 paved acres and an 800 square foot office. Due to this asset being a niche within a niche, finding comparable sales data, buyers, and lenders was challenging and forced our team to expand our search to a national scale.

Using our nationwide database, we began searching for comparable sales and were able to locate properties that helped our client settle on an agreeable reserve price. Although a reserve was set, the property was still tough to properly assess and our  team took our client’s property to the market unpriced. We began reaching out to storage owners across the continent and our seller saw over a dozen offers within two weeks of the property hitting the market. A few of the more serious buyers entered into a bidding war and we finally began escrow with the highest bidder. In  the  final  days  before  the sale, the buyer backed out, and we immediately replaced him with a new buyer at an even higher price after a second bidding war broke out. Due to complications in escrow with the first buyer, the new buyer and seller agreed on multiple pass through, non-refundable deposits at different stages of that escrow. This secured our seller with some payment even if the buyer dropped out.

Due to  the strength of our team’s database, we were able to secure the seller a large number of qualified and willing buyers for his property and helped him to achieve a favorable price for his storage.