AA Val U Stor – Yuma, Arizona

The Seller of this institutionally sized self storage facility was the original developer and operator of the property from its initial development seventeen years ago through several phased expansions. We had been providing advisory and market intelligence to this property owner for several years. When conversations turned to those of retirement, we were the logical choice.  No other broker had successfully sold similar property in this market for over a decade. The performance of the facility had been strong in the past and performance trends were positive, but we knew that selling this property could be a challenge. While larger operators may pass over this market due to size and population, smaller operators may pass over the property due to the size and price.  It was truly a Goldilocks’ assignment.

We, and our Argus affiliates, have successfully listed and sold numerous storage facilities in markets of all sizes around the country.  Building on a prior year total of $400 Million Dollars in self storage sales in 63 separate markets around the country, we have amassed an enormous database of buyers of self storage properties. This allowed us to quickly identify and market to the most likely group of potential buyers, who we knew through past conversations, were both interested in the market and able to afford an asset of this quality and size. Armed with this information we could pursue likely Buyers and present the opportunity directly, framing the community and the property for the tremendous opportunity it was.

By closing, our Seller had seen many offers sourced from our international marketing platform and investor relationships.  And thus, confidence that a maximum return for his many years of hard work had been achieved.  While the Buyer, who plans to incorporate additional modern management practices, was excited with this new value add opportunity.

 

“This sale is evidence of the growing capitalization of regional operators in the self storage investment marketplace,” said Jeff Gorden, Vice President of Eagle Commercial Realty Services, “Even in a smaller market like this one, we delivered multiple qualified offers to the Seller and fielded hundreds of inquiries.” “We had spent years with this Seller, helping to guide his reposition of the property after a destructive road closure. It was a tremendous accomplishment on his part and we were honored to have a supporting role.”