Buying or selling a storage facility is a complex task and one that is not in the frequent course of business for the average self-storage owner or for buyers who are new to the self-storage marketplace. The transaction process can often be confusing, competitive and outright frustrating. However, taking the right approach to prepare for […]
Jeff Gorden of Eagle Commercial Realty Services has arranged the sale of Discount RV & Boat Storage in El Mirage, Arizona. The self-storage facility sold September 13, 2019 for $4,375,000. The property spans over eighteen and one half acres and provides 605 spaces of RV and Boat storage. Eagle Commercial represented the Seller. Jeff Gorden […]
Congratulations, America! We’ve gone longer without a recession than at any time since economists began keeping track of such things. The economy has been expanding for 122 months, beating the previous record of 120 months which was set in the 1990s. However, over the last 30 days we have started to see the rock and […]
As we close out the first half of 2019, we continue see self-storage asset valuation on the rise. Much to my surprise, self-storage valuations are remaining strong and actually rising in some markets. Valuation of self-storage properties is a professional art, and while mechanical number manipulations are a very important part of the process, there […]
Kyle Topper and Jeff Gorden of Eagle Commercial Realty Services have arranged the purchase of Cochise Self Storage in Sunsites, Arizona. The self-storage facility sold July 10, 2019 for $385,000. The property spans over one and one half acres and provides 136 spaces of Self-Storage and 2 Retail Spots. Eagle Commercial represented the Buyer. Kyle […]
In my role as Financial Analyst here at Argus, one of the most common themes in my conversations with owners is the softening of rental rates due to the increase in new development that we have seen over the last few years. This increase in supply has forced owners and operators to adjust their rental […]
Kyle Topper and Jeff Gorden of Eagle Commercial Realty Services have arranged the purchase of vacant land located at Camelback Road and the loop 101 in Glendale, Arizona. This self storage development site sold on April 30th, 2019 for $1,280,000. The planned facility will be three stories and will provide over 700 units of climate […]
One of the most common questions I get as a broker is “where are cap rates today?” This seemingly simple question is more subjective than many people realize, due to considerations including project age, size, market size, property condition, construction type, and trade area demographics. These characteristics are used to classify a storage facility as […]